Phillip Securities upgraded Amazon to ‘Buy’ from ‘Accumulate’ and raised its price target to $330 from $320, according to The Fly.
- The firm raised its fiscal 2027 revenue estimate by 2%, adjusted net income forecast by 3%, and capital expenditure estimate by 3%, according to Investing.com.
- According to Koyfin data, 42 of the 60 analysts covering Amazon rate the stock ‘Buy,’ while 16 rate it ‘Strong Buy’ .
- Last Friday, Morgan Stanley lowered its price target on Amazon to $335 from $350 while maintaining an ‘Overweight’ rating, saying near-term expectations for AWS growth “may have become too high, according to The Fly.
Amazon.com (AMZN) shares drew investor attention on Monday after Phillip Securities upgraded the stock following its third-quarter results, citing demand visibility and Amazon’s positioning in artificial intelligence (AI).
According to The Fly, Phillip Securities upgraded Amazon to ‘Buy’ from ‘Accumulate’ and raised its price target to $330 from $320.
The firm said strong demand visibility supports Amazon’s aggressive capital expenditure plans, highlighting its model-agnostic AI strategy, custom chips and partnerships with large language model providers.
AMZN shares traded 1.15% higher in premarket trading at the time of writing.
According to Koyfin data, 42 of the 60 analysts covering Amazon rate the stock ‘Buy,’ while 16 rate it a ‘Strong Buy.’ Their 12-month price target ranges from $230 to $405, with an average of $326.92.
Phillip Securities Raises FY2027 Estimates
According to a report published by Investing.com, analyst Helena Wang raised Phillip Securities’ fiscal 2027 revenue estimate for Amazon by 2% and its adjusted net income forecast by 3%, citing strong growth in Amazon Web Services (AWS). The firm also increased its fiscal 2027 capital expenditure estimate by 3%.
Phillip Securities expects the investments to strengthen Amazon’s market position and create barriers to entry over the long term, according to Investing.com.
Analysts Weigh AWS Growth Against Spending Concerns
Last Friday, several analysts revised their Amazon price targets following the Q3 report, reflecting differing views on its near-term outlook and longer-term growth prospects.
Morgan Stanley lowered its price target to $335 from $350 while maintaining an ‘Overweight’ rating, saying that near-term expectations for AWS “may have become too high,” according to The Fly.
UBS, meanwhile, raised its target to $352 from $348, citing management’s outlook for AWS growth above 40% in both fiscal 2027 and 2028, as well as its $578 billion backlog, The Fly reported.
Scotiabank cut its price target to $300 from $325, citing a delay in free cash flow conversion and a change in its valuation methodology. However, the firm maintained an ‘Outperform’ rating and said the long-term opportunity remains materially larger, supported by greater contracted visibility, The Fly reported.
How Retail Views AMZN
On Stocktwits, retail sentiment toward AMZN remained in ‘extremely bullish’ territory over the past 24 hours, with ‘extremely high’ message volumes.
One user believes AMZN is the “safest tech large-cap on the market right now.”
View this Stocktwits post
AMZN shares have gained over 3.6% year-to-date.
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