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24/7 Wall St. rates Amazon (AMZN) a "Buy" with a $343.50 price target, implying 32.8% upside, citing its historically cheap valuation despite strong AWS growth.
The firm notes Amazon's current valuation (23x forward earnings) is more typical of a mature retailer, even as its AWS cloud unit grew 37% in Q2 FY26, the fastest in 18 quarters, with a $496 billion backlog. Q2 revenue reached $200.6 billion, up 19.62%, with operating income up 43.24% to $27.46 billion. Advertising revenue also jumped 26%. CEO Andy Jassy believes AWS could become a trillion-dollar annual revenue business. The analysis suggests Amazon's multiple is compressed compared to peers like Microsoft's Azure and Alphabet, which have similar business models but richer valuations. Even in a bear case, the stock is projected to gain 13%.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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