Citizens has reiterated its ‘Market Outperform’ rating on Amazon (NASDAQ: AMZN) and maintained a $315 price target.
As of press time, Amazon stock was trading at $261, with the target implying upside of more than 20%.
According to Citizens analyst Andrew Boone, Amazon’s best-in-class logistics operations support its differentiated retail business, while AWS continues to strengthen the company’s position in cloud computing and artificial intelligence.
Based on Citizens’ estimates, Amazon shares currently trade at 23.8 times projected 2027 GAAP earnings per share of $10.99 and 10.9 times expected 2027 EBITDA of $262 billion.
Citizens noted that its $315 target is based on approximately 29 times its 2027 GAAP earnings forecast.
The latest call aligns with broader Wall Street sentiment toward Amazon. In this case, data from 40 analysts covering the stock, as tracked by TipRanks, shows a ‘Strong Buy’ consensus rating, with 39 buy ratings, one hold rating, and no sell ratings.
The average 12-month Amazon stock price target stands at $333, representing potential upside of 27.6% from current levels. The highest analyst target is $400, while the lowest forecast is $250.
Amazon stock fundamentals
The consensus reflects continued confidence in Amazon’s growth prospects following its strong second-quarter results and accelerating AWS business.
Notably, Amazon delivered stronger-than-expected second-quarter results in July, reporting revenue of $200.6 billion, up 20% year over year. Operating income rose 43% to $27.5 billion.
AWS generated $42.2 billion in revenue during the quarter, marking its fastest growth rate in more than four years. The cloud division continues to benefit from rising demand for artificial intelligence infrastructure and services.
The company has also increased its 2026 capital expenditure guidance to approximately $220 billion as it expands AI and cloud infrastructure capacity.
While analysts remain constructive on the stock, investors continue to monitor elevated spending levels and the impact of heavy AI investments on free cash flow.
However, most firms view Amazon’s AWS momentum, expanding AI business, and retail efficiency improvements as supporting further upside for AMZN stock over the next 12 months.
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