Truist Raises PT On Amazon.com (AMZN) To $320, Reiterates “Buy” Rating
Key takeaways
- (NASDAQ:AMZN) is one of the best AI infrastructure stocks, with upside potential of 16.4%.
- (NASDAQ:AMZN)’s cloud business has already served as the backbone of the AI buildout.
- On May 29, 2026, Truist raised its price target on Amazon.com, Inc.
Truist Raises PT On Amazon.com (AMZN) To $320, Reiterates “Buy” Rating Faheem Tahir Thu, June 4, 2026 at 11:11 PM GMT+7 2 min read AMZN ANTH.PVT TFC On the back of strong confidence from hedge funds and Wall Street, Amazon.com, Inc. (NASDAQ:AMZN) is one of the best AI infrastructure stocks, with upside potential of 16.4%.
Amazon.com, Inc. (NASDAQ:AMZN)’s cloud business has already served as the backbone of the AI buildout. Yet a ten-year, $100 billion commitment from Anthropic indicates that growth is only set to accelerate from here.
On May 29, 2026, Truist raised its price target on Amazon.com, Inc. (NASDAQ:AMZN) to $320 from $310, keeping a “Buy” rating. The firm lifted its AWS revenue estimates for fiscal 2027 and beyond to better reflect the potential flow-through from the company’s recently announced $100 billion partnerships with both Anthropic and OpenAI and the corresponding recognition in revenues from backlog. The analyst contended that consensus is underestimating both fiscal 2027 capex and revenue growth.