TD Cowen Raises Amazon Price Target, Expects Q2 Beat and Strong Q3 Guidance

TD Cowen lifted its price target on Amazon.com (NASDAQ:AMZN) to $250 from $240 while reiterating a Buy rating, citing confidence in upcoming earnings and continued business momentum.

The analysts expect Amazon’s Q2 2025 results to beat consensus estimates, forecasting revenue and operating income to come in approximately 1% and 10% above expectations, respectively. This optimism is driven by sustained strength across AWS, advertising, and e-commerce segments.

Looking ahead, the firm also anticipates a solid Q3 guide, with their projections 1.1% above consensus for revenue and 6% higher for operating income. TD Cowen has slightly raised its long-term revenue and profitability estimates to reflect the continued positive momentum, particularly with AWS showing signs of re-acceleration.

The new $250 price target reflects the firm’s bullish outlook on Amazon’s multi-segment growth and operational leverage.