Analysts Bullish on Amazon (AMZN) Ahead of Q3 Earnings Despite Market Volatility
Amazon's stock (AMZN) is drawing bullish sentiment from top analysts ahead of its Q3 earnings report on October 30. Stifel Nicolaus' Mark Kelley raised his price target, while KeyBanc initiated coverage with a Buy rating and a $300 target—implying 35% upside. Wall Street expects EPS of $1.57 (up 9.7% YoY) and revenue of $177.85 billion (12% growth).
KeyBanc's Justin Patterson argues pessimism around Amazon's cloud business is overblown, citing improving growth prospects into 2026. The advertising segment also remains a bright spot. Year-to-date, AMZN has underperformed other Magnificent Seven stocks with just 0.8% gains.