$Amazon.com(AMZN)$ Wells Fargo raised its Amazon price target to $338 from $328, keeping an Overweight rating. Analyst Ken Gawrelski notes that AWS margin and Bedrock analysis supports 4%-6% upward revisions to AWS operating income estimates for 2026-2028. With AWS revenue estimates already well above consensus, the firm now sits 9% above consensus AWS operating income for 2027 and 12% above for 2028. Wells Fargo expects this positive revision trend to continue.
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