Truist raised the firm's price target on Amazon.com to $320 from $310 and keeps a Buy rating on the shares. The firm is raising its AWS revenue estimates in FY27 and beyond to better reflect the potential flow through from the company's recently announced $100B partnerships with both Anthropic and OpenAI and the corresponding recognition in revenues from the backlog, the analyst tells investors. Consensus is underestimating capex for FY27, but also underestimating revenue growth, the analyst contends.
