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Key Takeaways

• Amazon stock remains a "buy" to analysts, as several lifted their price targets following the company's latest earnings report.

• Amazon topped estimates on Thursday, but the retail and tech giant's outlook was softer than expected.

• Several analysts said the impact of tariffs remains uncertain, and said AWS could see solid growth in the second half of the year.

Analysts are staying bullish on Amazon (AMZN) stock even though the online retail and tech giant issued a relatively conservative second-quarter outlook after the bell Thursday.

Analysts from Wedbush, UBS, Bank of America, and JPMorgan all maintained their "buy" ratings following the report. All 26 analysts tracked by Visible Alpha who cover the stock call it a "buy."

Wedbush, Bank of America, and JPMorgan analysts lifted their price targets to $235, $230 and $225, respectively, from $225, $225 and $220, bringing each closer to the Visible Alpha consensus of $233.64. UBS analysts, however, reduced their bullish target to $249 from $253.

Amazon shares were little changed Friday, edging 0.1% lower to close at about $190. The stock has lost roughly 13% since the start of the year.

Tariffs Could Be Fueling Increased Buying

Amazon executives said in Thursday's earnings call that the company has not yet seen any weakness in online shopping, and if anything they have seen increased levels of buying as consumers look to get ahead of the impact of tariffs.

"While we hesitate to call this earnings report an inflection point as we are still in the dark about further tariff/policy moves, we believe we are seeing a tactical buy signal for AMZN shares," UBS analysts wrote.

Wedbush analysts said Amazon has "multiple levers of sustainable margin improvement," including increasing optimization and automation in its retail supply chain.

All four analysts said that the company's Amazon Web Services platform could see strong growth in the second half of this year as it increases compute capacity, as Amazon has said its AWS sales have been limited by supply so far this year. JPMorgan analysts said that "while AWS is bringing on more capacity, that incremental supply is being consumed quickly."

This article has been updated since it was first published to reflect more recent share price values.

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