
Raymond James cuts PT on Amazon AMZN.O to $260 from $275
New PT is still a ~10% upside to stock's last close
Says AMZN screens as a "tweener" in its AI-stack framework, with AI narrative likely a key swing factor for internet multiples despite expectations for a strong fundamental backdrop
Adds that it has a cautious view on agentic commerce risks, offset by above-consensus AWS estimates and potential upside in modern robotics
AMZN tactically constructive in Q4, supported by strong holiday demand, favorable ad and cloud checks - Raymond James
67 of 71 analysts recommend "buy" or higher, others "hold"; median PT is $300 - data compiled by LSEG
AMZN rose 5.2% in 2025