TD Cowen Reiterates Buy Rating on Amazon.com (AMZN)

TD Cowen analyst John Blackledge reiterated a Buy rating and $300.00 price target on Amazon.com (NASDAQ: AMZN).

The analyst commented: "Agentic in Focus; New Trainium Hardware & AI Models Roll Out; AMZN held its annual AWS re:Invent conference from 12/1-12/5; highlights included: i) Launch of new Nova GenAI models, including Omni (a unified multimodal solution); ii) Rollout of custom Trainium 3 UltraServers, w/ up to 50% cost reduction (training and inference) & +4.4x compute; iii) New agentic AI features via AgentCore & QuickSuite; and iv) Update on Zoox rideshare AVs, which run on AWS.

We expect AWS to Benefit From Continued Top Line Acceleration, Helped by Broader AI Trend: We project AWS will reach $128.1BN in rev in '25, up 19.1% y/y, and accelerating to +22.9% in '26 and +23.9% in '27. We estimate AWS will reach $348.5BN in '30 (a 22% CAGR '25-'30). Meanwhile, we forecast AWS Op Income will rise to $45.9BN in '25 and $117.8BN in '30, a 21% CAGR over the 5-year period. "

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.

Shares of Amazon.com closed at $229.11 yesterday.

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