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Wells Fargo raised price target to $313 and maintains Overweight rating, citing healthy Q2 and AWS acceleration.

Wells Fargo raised its price target on Amazon.com to $313 from $312 while maintaining an Overweight rating. The firm expects a healthy second quarter driven by continued acceleration in AWS and anticipates operating income guidance above consensus, though third-quarter revenue guidance may fall slightly below Street estimates due to a Prime Day timing shift. The new price target is based on 30 times the firm's 2027 earnings per share estimate. Separately, CNBC reported that Amazon is planning to raise at least $25 billion through an eight-part bond sale to fund its AI buildout.
Amazon.com IncWells Fargo raised price target to $313 and maintains Overweight rating, citing healthy Q2 and AWS acceleration.