BofA Raises Amazon Price Target to $310 on AWS Strength

Bank of America (BofA) has raised its price target for Amazon's stock to $310, citing the strong performance of Amazon Web Services (AWS) and its leading position in the cloud computing market. Analysts note that AWS's revenue growth is significantly contributing to the company's overall profitability, with increasing demand for artificial intelligence and machine learning services supporting AWS's growth potential. BofA's report also highlights cost improvements and efficiency gains in Amazon's retail business, including logistics network optimization, as factors in the target revision. Investors are closely watching Amazon's third-quarter financial results and AWS's growth rate, as the company's strength in cloud computing continues to underpin long-term growth expectations. This is not investment advice.

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BofA's target price increase presents a positive corporate outlook, driven by AWS strength. Technically, the price is above both the 20-day and 50-day moving averages, and the RSI at 66 is not yet in overbought territory. Although the MACD line remains above the signal line, it is closely tracking, indicating that short-term momentum is maintained but caution is warranted. The 2.5% rise in the last 24 hours reflects the initial positive reaction to the news. The upward trend is expected to continue in the short term, and with no overbought signal generated, confidence is at a medium-high level.

RSI 14

66.2

MACD

2.39

24h Δ

2.50%

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