Amazon (AMZN) Stock Gets a Boost From Evercore and a Massive Nvidia Deal
TLDR
- Amazon stock rose about 4% after Evercore ISI analyst Mark Mahaney raised his price target to $355, up from $315
- Mahaney cited strong survey data showing 92% U.S. shopper penetration and growing AI-driven retail demand
- AWS plans to add 2 million Nvidia GPUs in 2027-2028, reinforcing cloud and AI demand signals
- Wall Street holds a Strong Buy consensus on AMZN with an average price target of $334
- Amazon reported Q2 EPS of $5.75, beating estimates of $1.82, with revenue up 19.6% year over year
Amazon (AMZN) stock climbed roughly 4% on Friday, opening at $266.43, after Evercore ISI analyst Mark Mahaney raised his price target to $355 from $315 and kept his Buy rating in place.
Mahaney, who ranks 423rd among more than 12,500 analysts tracked by TipRanks, has an 84% success rate on AMZN with an average return of 21.81% per rating over a one-year period. That track record gives his calls some weight.
The upgrade was backed by Evercore’s latest U.S. Online Retail survey, which pointed to several solid trends for Amazon’s retail business.
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