Amazon stock (NASDAQ: AMZN) opened Friday’s trading session at $251 after rising more than 2% on Thursday. The e-commerce giant has been struggling to maintain its position above the $250 level and has dipped nearly 6% in a month. Investors are skeptical about whether AMZN can hold on to the momentum this time and find a breakthrough in the charts. It is now at the crosshairs of a major junction that can make or break its value.
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Amazon Stock Could Go Above $250 and $300: Predicts Wells Fargo
On the heels of the uncertainty, leading global investment bank Wells Fargo wrote in a note to clients on Wednesday (September 16, 2026) to begin accumulating Amazon stock. Ken Gawrelski, Wells Fargo’s portfolio manager, maintained his buy rating on AMZN and hiked its price target. The analyst predicted that the e-commerce giant would not retrace in value like the previous times, but would see a sustained surge in the indices.
Wells Fargo’s analyst raised Amazon’s stock price target to $338 in the latest forecast. The previous estimation from the analyst for AMZN was at $328. Gawrelski hiked the price target by $10, indicating bullishness on the leading equity. It also marks a profit of nearly $77 per share if traders take an entry position in the asset today. That would record an uptick and return on investment (ROI) of approximately 35% from its current price of $251.
The analyst wrote in the note that Amazon Web Services (AWS) is expanding fast, with backlogs increasing. This puts the company in a better position to get a boost in the charts. The accelerating demand for cloud services in data centers to build AI infrastructure would multiply Amazon’s stock valuation. These are among the reasons why Wells Fargo hiked AMZN’s target by $10 to $338.