Wells Fargo also raised its price target on Amazon to $280, up from $245, noting that AWS sales are expected to rise 22% in 2026, four points above consensus.
Amazon.com (AMZN) shares rose 2% in premarket trading on Wednesday, with the ticker becoming the top-trending name on Stocktwits after Wells Fargo upgraded the e-commerce giant to ‘Overweight’ from ‘Equal Weight,’ citing that Amazon Web Services (AWS) will see revenue acceleration.
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Wells Fargo also raised its price target on Amazon to $280, up from $245, according to TheFly. The firm expects AWS sales to rise 22% in 2026, four points above consensus, with its share losses peaking in 2025.
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