Stifel raised its price target on Amazon.com (NASDAQ:AMZN) to $300.00 from $295.00 on Tuesday while maintaining a Buy rating on the e-commerce and cloud computing company. The new target equates to about a 24% upside from Amazon’s current trading price of $241.10.
The adjustment to Stifel’s valuation is a restrained move - a 1.7% increase over its prior target - and arrives with Amazon preparing to release quarterly results on February 5. According to InvestingPro data cited in the briefing, Amazon is judged to be slightly undervalued on a Fair Value basis, with analyst price targets spanning a range from $230 to $360.
Stifel pointed to several drivers behind the revised outlook. The firm highlighted positive signals from Amazon’s advertising unit, described the fourth-quarter e-commerce environment as "healthy" and noted a strong holiday shopping season. In addition, Stifel expressed confidence in Amazon Web Services, saying AWS’s growth trajectory "looks more than reasonable."
While acknowledging current concerns about weakness in consumer spending, Stifel said it believes Amazon possesses offsetting strengths that should help the company navigate those pressures. The firm expects Amazon to outperform in 2026 after a period of underperformance last year.
The update from Stifel arrives amid other analyst activity and company developments. BofA Securities is projecting Amazon’s fourth-quarter revenue at $213 billion and operating income at $26 billion, figures the bank sees as above consensus estimates. BofA has lowered its price target for Amazon to $286 while retaining a Buy rating.
Evercore ISI reiterated an Outperform rating with a $335 price target, citing improvements in Amazon’s cost structure. Bernstein SocGen Group also continues to view Amazon favorably, keeping an Outperform rating and a $300 price target and pointing to potential growth in 2026.
Separately, Amazon has secured a $581 million contract from the Pentagon to support the U.S. Air Force’s Cloud One Program. The contract is slated to run through December 2028 and adds a material government services engagement to Amazon’s client portfolio.
Taken together, the analyst commentary and the Pentagon award frame the investment case for Amazon as one balancing near-term consumer demand risks against growth drivers in advertising, its core retail business and cloud services. Market participants will be watching the company’s February 5 earnings release for confirmation of the trends cited by Stifel and other brokers.