Wall Street analyst updates Amazon stock price target

Core Viewpoint - Wall Street analysts maintain a positive outlook on Amazon, with Bank of America Securities reiterating a 'Buy' rating and a price target of $303, indicating a 27% upside from the current price of $238 [1][4]. Group 1: AI Strategy and Alexa Expansion - Amazon's expansion of the Alexa ecosystem is highlighted by the launch of Alexa.com, a web-based version of its AI assistant, which broadens access beyond dedicated devices and mobile apps [2][4]. - Alexa.com is positioned as a strategic differentiator, focusing on smart home management and family-oriented use cases, leveraging Amazon's existing customer relationships and data advantages [3][4]. Group 2: User Engagement and Monetization - The expanded reach of Alexa, with an emphasis on household functionality, is expected to enhance user engagement and support Amazon's long-term monetization opportunities [4]. - The rollout of Alexa.com is seen as a positive factor for Amazon's broader AI ambitions and stock outlook [4]. Group 3: Analyst Sentiment and Price Targets - The overall sentiment on Wall Street is overwhelmingly positive, with Amazon receiving a 'Strong Buy' rating based on 47 analyst reviews, where 46 recommend buying and only one suggests holding [5]. - Analysts have set an average 12-month price target of $295.72 for Amazon, implying an upside of approximately 23.6%, with forecasts ranging from a low of $250 to a high of $340 [8].