Amazon's AI Investments Drive Bullish Outlook with 32% Upside Potential

TD Cowen analyst John Blackledge has reaffirmed a strong buy rating for Amazon, setting a price target of $350. According to NS3.AI, this target suggests a potential upside of approximately 32% from its current price of $265. Amazon's stock has risen nearly 18% year to date in 2026. The positive outlook is attributed to the company's growing AI backlog and its investment in Anthropic.