Truist is Bullish on Amazon.com, Inc. (AMZN)

Truist raised its Amazon target to $285 (from $280) on April 17, 2026 and kept a Buy rating ahead of Q1 results, citing stronger AWS growth and rising AI workload adoption via partnerships with OpenAI and Anthropic. Truist expects AWS revenue to accelerate to 25% year-over-year in Q1 (up from 23% in Q4), supporting a positive near-term outlook for AMZN. Offsetting this, California’s attorney general has sued Amazon alleging anticompetitive price coordination with retailers; trial is set for Jan. 19, 2027. The analyst upgrade and AI/AWS optimism are the primary market drivers, while the lawsuit poses a legal/regulatory risk.