BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Wells Fargo Upgrades Amazon Stock to Overweight, Citing AWS Growth Potential
Wells Fargo Upgrades Amazon Stock to Overweight, Citing AWS Growth Potential
13
3
BTCCSquare news:
Wells Fargo analyst Ken Gawrelski has shifted his stance on Amazon (AMZN), upgrading the stock from Equal Weight to Overweight and raising the price target from $245 to $280—a 27% upside potential. The move comes as Gawrelski gains 'greater conviction' in accelerated growth for Amazon Web Services (AWS), driven by Project Rainier, a compute capacity expansion in partnership with Anthropic.
Revenue growth forecasts for AWS have been revised upward to 22% in 2026, surpassing both Gawrelski’s prior estimate of 19% and the Street’s 18% consensus. Project Rainier is expected to contribute 5% and 4% to AWS revenue growth in 2026 and 2027, respectively. This catalyst arrives as Amazon shares have lagged behind the NASDAQ’s 17% rally this year.
By:
