Amazon Shares Rise Up to 5.6% After Phillip Securities Upgrade to Buy

Amazon shares climbed as much as 5.6% on Monday after Phillip Securities upgraded the stock from 'Accumulate' to 'Buy' and lifted its price target to $330 from $320. Analyst Helena Wang pointed to robust artificial intelligence and cloud demand visibility at Amazon Web Services (AWS). The rebound helped reverse an initial post-earnings drop driven by planned 2026 capital expenditures of $220 billion and a $42.4 billion trailing 12-month free cash flow outflow. While Q3 earnings per share of $1.89 missed the $1.96 consensus, overall operating profit rose to $28.1 billion, led by $17.8 billion from AWS.