Amazon (NASDAQ: AMZN) received a couple of positive price target revisions from major Wall Street companies on Wednesday, January 28.
The latest analyst notes came in just as the company announced plans to cut roughly 16,000 jobs as part of a broader restructuring project.
Still, the Street remains bullish on Amazon’s trajectory, primarily due to accelerating growth at Amazon Web Services (AWS) and improving margins across its retail business ahead of earnings in February.
New Amazon price targets
First, Oppenheimer analyst Jason Helfstein raised his Amazon price target from $305 to $315, maintaining an ‘Outperform’ rating and calling the company his ‘top mega-cap pick.’
Helfstein also raised AWS growth estimates after analyzing the impact of the Anthropic partnership. Now, the analyst forecasts 24% AWS revenue growth in fiscal 2026, just above the Street’s consensus estimate of 21%.
Oppenheimer also pointed to expanding e-commerce margins as automation investments begin to pay off, estimating $7 billion in cost savings by fiscal 2027.
Separately, KeyBanc analyst Justin Patterson lifted his price target from $303 to $308, with an ‘Overweight’ rating. Patterson argued that consensus estimates are underestimating AWS’s re-acceleration in 2026, while overstating competitive risks from agentic commerce and potential pressure on advertising.
AMZN share price forecast
With the new figures taken into account, the average Amazon price target for the next 12 months sits at $295.30, according to data retrieved by Finbold from TipRanks, which aggregates analyst ratings over a three month period.
The average price implies a nearly 20% upside potential from the current price of $247. What’s more, today’s Amazon stock ratings are both in line with the overall Wall Street consensus, given AMZN shares have a total of 46 ‘Buy’ ratings and just one ‘Hold.’
As such, these numbers underscore steady confidence that Amazon’s AI initiatives can support margin expansion and earnings upside, even as the company reshapes its workforce.
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