KeyBanc Capital Markets is doubling down on Amazon.com’s (NASDAQ:AMZN) AI infrastructure splurge, arguing that fears of overbuilding are misplaced as AWS growth re‑accelerates and long‑term compute demand hardens.
AMZN stock is moving.
See the chart and price action here.
AMZN – Overweight, $335 Price Target In a new note, the firm reiterates its Overweight rating on Amazon and nudges its price target up to $335 from $330, based on 25.5 times 2028 earnings, as it extends its valuation horizon and edges estimates above consensus into 2028.
At the center of the call is a simple trade‑off: KeyBanc sees near‑term margin pressure as the cost of entrenching AWS as a primary supplier of scarce AI compute.
