Citi analyst Ronald Josey reiterated a "Buy" rating on Amazon.com Inc. on January 22, 2026. He set a bullish $320 price target.
Confidence stems largely from the anticipated performance of Amazon Web Services (AWS). Josey projects AWS revenue growth will accelerate to 22.5% year-over-year.
The forecast is underpinned by increasing demand for AI partnerships and continued cloud infrastructure build-out.
The report also highlighted positive trends for Amazon’s retail business, citing a strong online holiday shopping season.
The advertising segment is expected to grow around 20% year-over-year.