Evercore ISI Raises Amazon Price Target to $355

Evercore ISI raised its price target for Amazon.com shares to $355 from $315, attributing the growth to the positive impact of agentic AI on consumer behavior. Analyst Mark Mahaney reported that AI-powered tools, specifically new additions to Alexa, are increasing purchase volumes and improving product discovery.

An annual online retail survey conducted by Evercore ISI found that 57% of Alexa AI users purchased products they were previously unaware of, while 36% of participants reported buying more due to the AI integration. The survey also noted Amazon's significant market dominance, showing a 92% penetration rate compared to 58% for Walmart.

This optimistic outlook aligns with a broader Wall Street consensus, with 64 of 68 analysts currently maintaining a buy or strong buy rating for the company.