Truist Financial Securities has raised its price target on Amazon shares to $285 from $280 ahead of the company’s upcoming earnings call, while maintaining a Buy rating. The updated view was issued by analyst Youssef Squali and reflects growing confidence in Amazon’s near-term business momentum.
Wall Street Focus Turns to Earnings
The revision comes as investors prepare for Amazon’s earnings report and look for signs that recent operating trends can support further upside in the stock. Amazon shares have been volatile, but they also staged a strong rebound in the second quarter, climbing from a low of $208 to a high of $248. That move marked a gain of 18.15%, suggesting sentiment has improved meaningfully heading into results.
AWS Growth Remains the Main Driver
A central pillar of the bullish case is Amazon Web Services. According to the report, AWS revenue growth is expected to accelerate from 23% to 25%. Because AWS is widely seen as a major engine of Amazon’s revenue expansion and overall valuation, stronger cloud performance could play an outsized role in shaping both earnings reactions and broader investor expectations.
Broader Institutional Support
Truist is not alone in its positive stance. Bank of America and KeyBanc Capital Markets have also issued Buy ratings on Amazon, signaling broad institutional confidence in the company’s growth outlook. As the earnings event approaches, the market will be watching whether AWS strength and consolidated revenue trends can justify the increasingly constructive tone from Wall Street.