UBS lifted its Amazon share-price target to $348 ahead of the company’s third-quarter results call, setting a higher valuation benchmark while maintaining its Buy rating.
On Oct. 26, UBS analyst Stephen Ju increased the target by $30 from $318. Ju did not say when he expects Amazon shares to reach that level. The $249.09 reference price for Amazon shares on Oct. 26 was about 28% below the new target.
Morgan Stanley’s $350 target, raised from $335, is $2 above UBS’s figure; the firm kept its Overweight rating. Analyst Brian Nowak’s outlook also projected Amazon Web Services revenue growth of 47% in 2027 and 42% in 2028, with Amazon earnings per share near $16.50 in 2028, as EconoTimes’ earlier coverage of the bank’s Amazon outlook reported.
Amazon’s third-quarter results call is scheduled for 5 p.m. ET Oct. 29 (21:00 UTC).
