Wall Street analysts update Amazon stock price

Core Viewpoint - Amazon has received positive endorsements from BMO Capital and BNP Paribas Exane, despite facing challenges in consumer demand and economic uncertainty [1][5]. Group 1: Stock Performance and Ratings - Amazon's stock has shown volatility, with a year-to-date increase of 2.5%, currently trading at $225 [1]. - BMO Capital maintains an 'Outperform' rating with a price target of $300, based on a holiday survey indicating a decline in consumer spending expectations [3]. - BNP Paribas Exane initiates coverage with an 'Outperform' rating and a price target of $320, highlighting Amazon's leadership in e-commerce and cloud computing [5]. Group 2: Consumer Sentiment and Market Position - The holiday survey revealed that only 50% of consumers expect to increase spending, down from 62% the previous year, with consumer confidence at a three-and-a-half-year low [3]. - Despite economic challenges, 94% of surveyed consumers plan to shop on Amazon, indicating its strong market position [4]. Group 3: Growth and Strategic Initiatives - Amazon reported a revenue growth of 11.48% over the past year, with a market valuation of $2.36 trillion [5]. - Concerns regarding underinvestment in artificial intelligence are addressed, with Amazon's ongoing infrastructure development and AI integration across AWS and its consumer ecosystem demonstrating commitment to technology [6].