As Amazon.com, Inc. (NASDAQ: Price AMZN) stock showed the end of June correction in early July, John Blackledge, Wall Street analyst of TD Cowen, remained optimistic for the next 12 months.
Blackledge reiterated the Amazon purchase property in the next 12 months, according to a letter sent to clients surveyed by Finbold on July 9. He also reduced his 12-month price target for AMZN shares from $350 to $340, thus indicating a potential upside of 40.6%.
The analyst expressed a strong opinion on Amazon stock, following the same move from Eric Sherida, an analyst at Goldman Sachs Group Inc. (NYSE:GS). Earlier this week, Sherida reiterated his Buy rating on AMZN shares and raised his 12-month price target to $335 from $325.
Meanwhile, Laura Martin, analyst at Needham, maintained a Buy rating on Amazon stock, as did Finbold. report. Likewise, 45 Wall Street professionals he was asked in TipRanks they have set a 12-month price target of $319.26, which represents a 32% upside.
Why is Wall Street in the market for Amazon?
Wall Street’s bullishness on Amazon stock is fueled by AWS’s re-acceleration and the growing AI infrastructure by top companies including Anthropic and OpenAI. Additionally, AWS grew 28% to $37.587 billion in Q1 2026, the fastest growth in 15 quarters, according to the company’s findings. report.
Meanwhile, Wall Street analysts are bullish on AMZN shares following year-to-date (YTD) gains. From a technical analysis, Amazon shares have made highs and may have made lows in the past two weeks, which is known to be growing.
Likewise, if AMZN stock rallies above 2026 to reject its level around $275, the analyst’s price prediction can be achieved. However, if investors in the AI industry cool down among the risks of losses, such as Finbold. he realizedthe predictions of the analysts may be wrong.
