Amazon.com Inc (NASDAQ:AMZN) shares are falling Thursday, even after Rosenblatt initiated coverage on the stock with a Buy rating and $335 price target. Here’s what you should know.
Amazon.com stock is facing resistance. Why is AMZN stock trading lower?
Rosenblatt Starts Amazon at Buy, Cites Underappreciated AI Position
Rosenblatt analyst Scott Devitt began coverage of Amazon, initiating a Buy rating and a $335 price target that implies roughly 26% upside from the stock’s current price of around $262.50.
Devitt argued that Amazon’s standing in artificial intelligence isn’t getting enough credit from the market. AWS sits at the center of that thesis: he expects the cloud unit to close out 2026 growing 45%, outpacing the Street’s 38% estimate, and to clear $335 billion in annual revenue by 2028. That forecast builds on AWS’s 37% year-over-year growth in the second quarter, its fifth straight quarter of accelerating growth.
