Analysts at Wells Fargo and Oppenheimer have raised their price targets for Amazon (NASDAQ: AMZN) to $295 and $305 per share, respectively, averaging to $300 per share. This target suggests a potential increase, especially if Amazon’s projected earnings of $8.92 per share materialize, which would indicate a fair forward price-to-earnings ratio in line with other major tech stocks.
The upgrades come as Amazon’s shares are seen as having a clear path to reach the $300 mark by December 2026, influenced by expected earnings growth and a favorable economic environment, including potential interest rate cuts. Historical valuations for similar tech stocks indicate that a return to higher earnings multiples could push Amazon’s stock price even beyond $300, potentially reaching approximately $312 per share.
