Home / Business and Economy / Amazon Stock Soars: UBS Boosts Target to $348
Amazon Stock Soars: UBS Boosts Target to $348
29 Oct
Summary
- UBS raised Amazon's share-price target to $348.
- Morgan Stanley also increased its price target to $350.
- Amazon's Q3 earnings call is scheduled for October 29th.
UBS analyst Stephen Ju has elevated Amazon's share-price target by $30, setting a new benchmark at $348 while reaffirming a Buy rating. This strategic adjustment anticipates Amazon's upcoming third-quarter results call, slated for 5 p.m. ET on October 29th. The previously noted reference price of $249.09 on October 26th was considerably below this new target.
Further bolstering Amazon's prospects, Morgan Stanley has also raised its price target from $335 to $350, maintaining an Overweight rating. Analyst Brian Nowak projects robust revenue growth for Amazon Web Services, anticipating 47% in 2027 and 42% in 2028. Additionally, earnings per share are forecasted to approach $16.50 by 2028.
