Telsey reiterated its Outperform rating and $335 price target on Amazon after the company's Prime Big Deal Days event ran October 6-7, 2026. The firm called its initial read on the two-day event positive, pointing to strong execution and effective marketing as the holiday shopping season begins.
Telsey reiterated an Outperform rating and $335.00 price target on Amazon following the company's Prime Big Deal Days event, held October 6-7, 2026. Prime Big Deal Days kicked off the holiday season, and most retailers ran competing events to capture early spending.
Shares trade near $254, P/E at 20.5
Amazon stock currently trades at $254.06 with a P/E ratio of 20.5, and InvestingPro analysis suggests the stock is undervalued relative to its Fair Value.
Telsey points to strong execution
The firm's initial assessment of the two-day shopping event is positive. Amazon leveraged relationships with popular brands including Bose, Cole Haan, Dash, Dyson, Keurig, New Balance, Stanley, and Travelpro to offer deals, while fast, free shipping added value and convenience for customers.
Amazon also continues to use its Ask Alexa feature, an AI-powered conversational shopping assistant that helps customers with specific questions and lets them review price history. Telsey said Amazon executed well on Prime Big Deal Days, marketing effectively before and during the event, offering a wide assortment at attractive prices, and executing efficiently.
According to the firm, Prime Big Deal Days put Amazon at the front of consumers' minds as they begin thinking about holiday shopping, which should support growth. Amazon maintains its position as a prominent player in the Broadline Retail industry, with revenue growth of nearly 16% over the last twelve months and a "GREAT" financial health score according to InvestingPro metrics.
Other analysts have also raised targets
Several other firms have updated their views on Amazon in recent weeks. TD Cowen reiterated its Buy rating with a $350 price target, projecting third-quarter 2026 revenue to reach $202 billion on cloud-computing growth. Susquehanna maintained a Positive rating with a $325 price target, citing Amazon's advertising potential with new AI tools.
Cantor Fitzgerald reiterated an Overweight rating at $320 after Amazon's unBoxed 2026 conference, where the company unveiled AI-powered advertising products. Yorkville Ives initiated coverage with an Outperform rating and a $300 price target, while Tigress Financial raised its price target to $385, maintaining a Buy rating and citing Amazon's AI capabilities as a growth catalyst across AWS and advertising.
Source: Investing.com
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