Telsey analyst Joe Feldman raised the price target on Amazon.com (NASDAQ: AMZN) to $315.00 (from $300.00) while maintaining a Outperform rating.

The analyst comments "TAG View: Amazon posted strong 1Q26 sales and earnings that beat expectations, led by 28% growth at AWS, and provided above-forecast 2Q26 guidance. In 1Q26, total sales increased 17% to $181.5B, ahead of our projection of ~$178.0B and the FactSet consensus (FS) of ~$177.3B—driven by NA Retail up ~12.1% to $104.1B (TAG 11.0%; FS 10.2%), International up ~18.7% (~11% in CC) to $39.8B (TAG 16.0%; FS 14.3%), and AWS up 28.4% to $37.6B (TAG 23.0% and FS 25.1%). NA Retail and International benefited from adding new brands, sharpened pricing, and increasingly faster delivery options. AWS, however, remained the star of the show, with growth accelerating due to rising demand for AI and cloud products, and chips. Operating income rose ~29.6% to $23.9B vs. our forecast of $21.3B and FS at $20.8B, equating to operating margin expansion of 132 bps to 13.1%, the highest operating margin ever across all segments. Looking ahead, Amazon expects continued strong 2Q26 sales growth of 16%-19% to $194.0B-$199.0B vs. FS at $189.0B (includes Prime Day shift to 2Q26 from 3Q25) and solid operating income, despite higher spending, of $20.0B-$24.0B vs. FS at $22.6B."