Piper Sandler Keeps Overweight on Amazon (AMZN), Sets $233 Target Ahead of Holiday Season and AWS Momentum

Amazon.com, Inc. (NASDAQ:AMZN) is one of the AI Stocks Analysts are Tracking Closely. On December 3, Piper Sandler analyst Tom Champion reiterated an Overweight rating on the stock with a $233.00 price target. The firm is constructive on the stock, citing both the upcoming holiday season and strengthening AWS product momentum.

Referring to Adobe data released on Wednesday, the firm noted solid Black Friday to Cyber Monday growth, with total holiday season spend projected to reach an estimated 5%. The firm views these results favorably “given tough compares with '24.”

"Adobe data released today suggests solid Black Friday to Cyber Monday growth and total '25 holiday season spend growth projected at ~5%. A good result in our view given tough compares with '24."

Holiday spending data is viewed as a positive read-thru for advertising-focused companies as well, benefiting Amazon’s growing advertising business.

The firm also discussed AWS re:Invent 2025, praising AWS CEO Garmans’s keynote and the arrival of the Agentic platform era.

“Further, we were impressed with AWS CEO Garman's re:Invent keynote highlighting scale, hardware and new product developments, plus the arrival of the Agentic platform era. Reiterate OW rating."

Amazon.com Inc. (AMZN) is an American technology company offering e-commerce, cloud computing, and other services, including digital streaming and artificial intelligence solutions.

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