On March 4, Amazon’s (NASDAQ: AMZN) extensive ties with the artificial intelligence (AI) company Anthropic provided the latest prompt to Wall Street to revise its outlook for the e-commerce and technology giant.
Specifically, Bank of America’s (NYSE: BAC) Justin Post issued a note on Wednesday in which he reiterated BofA’s recent ‘Buy’ rating for AMZN stock.
The Wall Street expert simultaneously confirmed Amazon shares are still expected to rally 27.47% from their press time price of $215.74 in the coming 12 months, and reach $275.
How Anthropic AI is driving Amazon stock optimism
Notably, much of Post’s writing was concerned with Anthropic’s impressive annualized revenue run rate, which exceeded $19 billion, for a $17 billion increase year-over-year (YoY) and a $10 billion increase compared to the end of 2025.
The figure of $19 billion represents a long-term projection based on current and short-term performance.
Furthermore, the confirmation of the high 12-month Amazon stock price target comes amidst reports of growing adoption of Anthropic’s AI models, but also despite the recent clash with the U.S. Department of Defense over certain guardrails.
Amazon and Anthropic signed a major deal involving a $4 billion investment for Jeff Bezos’ company and the AI firm’s commitment to use AWS as its key training and deployment partner as far back as November 2024.
Wall Street weighs in on the future of Amazon stock
Zooming out, BofA’s outlook for AMZN shares is generally consistent with the wider view on Wall Street.
Indeed, the consensus rating for the blue-chip technology firm based on the ratings assigned in the most recent three months is ‘Strong Buy,’ with an overwhelming majority of experts considering the equity as such.
Similarly, the average 12-month price target for Amazon stock stands at $282.21, per the data Finbold retrieved from the analysis platform TipRanks at press time on March 5.
Examining the revisions assigned in the last 30 days reveals that, even after the February 23 downgrade from $305, Wells Fargo’s (NYSE: WFC) 12-month forecast for a rally to $304 is the most bullish.
On the flip side, the most bearish recent estimate came from Fubon Securities, which assigned a ‘Hold’ rating to Amazon stock on February 6, while estimating it will be changing hands at $240 in 12 months’ time.
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