Jefferies just handed out a new price target on Amazon, and it lands right as AMZN traders are already glued to their screens this week. The firm kept its Buy rating and pushed its Amazon stock price target up to $320, and that number right now feeds pretty directly into the Amazon stock forecast a lot of investors have been quietly building for the second half of the year. Amazon stock price today sits at $249.99, up 1.12% on the session, and this fresh Jefferies Amazon stock price target also gives anyone chewing over an AMZN stock target 2026 an actual figure to measure against, instead of just a guess.
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Amazon Stock Price Target, Forecast, And AMZN Valuation Outlook
Why Jefferies Sees Amazon Trading At A Discount
The thinking behind this call really comes down to fairly simple math, at least the way Jefferies tells it, and it is baked right into the new Jefferies Amazon stock price target. Amazon trades at around 12 times its expected earnings before interest, taxes, depreciation and amortization over the next twelve months, and that looks cheap next to both Walmart and Alphabet, according to the firm.
Jefferies analyst Brent Thill said in a note to clients:
“At ~12x [next 12 months] EV/EBITDA, AMZN trades at [a one-third] … discount to 18x blended GOOGL 17x / WMT 19x and is a top pick among hyperscalers.”
Jefferies also pointed out that Amazon’s fairly quiet share price over the past three months only made an already attractive entry cheaper still, and that keeps the whole Amazon stock price target conversation front and center right as earnings get closer. Analysts have been arguing over where a fair number should sit for weeks now, and this week’s Jefferies Amazon stock price target more or less settles it, at least for the time being.
AI Spending Shapes The Amazon Stock Forecast
Jefferies expects Amazon’s AI-driven data center buildout to drive its next stock forecast, especially if the company raises its capital expenditure guidance later this year, something that still looks like a real possibility right now.
Brent Thill said:
“Our expert called the current buildout unprecedented & believes [estimates of Amazon’s capital expenditure and free-cash flow for the full year] … may still be understated.”
This view matches Jefferies Amazon stock price target that assumes AI spending keeps paying off, not just for a quarter or two. It also feeds the broader Amazon stock forecast that Wall Street keeps building as the AI buildout gains speed, and it explains why this Jefferies Amazon stock price target has drawn so much attention this week.
Amazon Stock Price Today And The Road To 2026
Amazon stock price today reflects a stock that has already climbed close to 10% since January, and the AMZN 2026 stock target conversation now has some real numbers sitting behind it instead of just chatter. Data from Koyfin shows 62 of the 65 analysts covering AMZN rate it Buy or Strong Buy, and the average 12-month target sits at $314.27. That puts this new Jefferies Amazon stock price target of $320 a little ahead of the wider Street consensus, and it gives anyone tracking an AMZN stock target for 2026 one more data point worth watching.
Retail sentiment on Stocktwits also shifted to bullish from neutral in the last 24 hours, even though message volume stayed pretty low. Between the valuation gap against Walmart and Alphabet, the AI spending story, and an analyst base that leans about as one sided as it gets, the Amazon stock price target, the Amazon stock forecast, and Amazon stock price today all seem to be pointing the same way as AMZN heads toward its next earnings report, at least for right now. And with the Jefferies Amazon stock price target sitting at $320, the AMZN stock target for 2026 discussion probably isn’t going away anytime soon.