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Rosenblatt raises Amazon price target to $360 from $335, says AI shopping-agent ad risk overstated
What happened
Rosenblatt Securities analyst Scott Devitt raised his Amazon (AMZN) price target to $360 from $335 on Wednesday while maintaining his Buy rating. The new target implies roughly 46% upside from Tuesday's close of $246.67. Devitt argued the market's concern that AI shopping agents (Meta's Muse, OpenAI's Dots) will displace Amazon's retail advertising business is overstated — he called those fears 'false'. Amazon stock closed Wednesday up 0.6% at $247.22.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- AMZN (Mag 7 watchlist; agentic-commerce overhang)
- META (Muse as the counterparty in the debate)
- AAPL (services-revenue exposure flagged by BofA); broad e-commerce/retail-ad peers. The debate cuts across the Mag 7's AI platform strategies.