BofA Eyes $22B Prime Day GMV as Amazon Shares Rise 3.4%

On June 18, BofA reiterated its Buy rating and $310 target for Amazon, projecting Prime Day (June 23-26) will generate $21.6-22 billion in GMV and $8.5 billion in incremental Q2 revenue while highlighting Alexa AI adoption. Shares climbed 3.38% intraday to $245.52. The note follows UBS’s June 16 reaffirmation of accelerating AWS growth (28% to $37.6 billion) and a $364 billion cloud backlog, plus earlier BofA, Bernstein, and Barclays target hikes that cemented Wall Street’s Strong Buy consensus and 34% implied upside.