EL7.AI
StocksUpdated•Originally published 15 July 2026•Updated 16 July 2026•
2 min read

Amazon Sentiment Strengthens as KeyBanc Sets $335 Target on AWS Momentum

Key Facts

1Jefferies reiterated its 'Buy' rating on Amazon (AMZN) with a price target of $320.
2Analysts believe Amazon's valuation is currently cheaper compared to Walmart (WMT) and Alphabet (GOOGL).

Amid surging demand for cloud infrastructure, KeyBanc has intensified the bullish outlook on Amazon (AMZN) by setting a $335 price target, implying a 31.4% upside potential. This optimism is fueled by forecasts of 32% growth for AWS in the second quarter and a massive $500 billion backlog. However, the narrative is balanced by reports of internal friction, including the departure of AWS executive Dave Brown and managerial resistance to new warehouse software implementation.

Valuation metrics suggest Amazon remains attractively priced relative to its mega-cap peers, with a trailing P/E ratio of 30 compared to Apple's (AAPL) P/E of 38. Per market data, this valuation gap persists as Alphabet (GOOGL) closed at $372.28 and Walmart (WMT) at $114.09 on July 15, 2026. Analysts view Amazon's lower multiple as a strategic entry point, particularly as the company leverages its cloud dominance to offset hardware-centric volatility seen in other tech giants.

Amazon shares finished at $254.96 at the close of July 15, 2026, positioned well below the new analyst consensus. Traders are looking ahead to the U.S. Monetary Policy Report on July 10, 2026, for clues on the interest rate trajectory affecting growth stocks. Additionally, upcoming Initial Jobless Claims will be critical in assessing the resilience of the consumer base, which remains a vital component of Amazon's core retail operations.