Rosenblatt Raises Amazon Price Target to $360, Dismissing AI Shopping Agent Threats

Rosenblatt Securities raised its 12-month price target on Amazon.com, Inc. to $360 from $335 while maintaining a 'Buy' rating, implying a 45.94% upside from its recent $246.67 close. Analyst Scott Devitt dismissed concerns that emerging agentic artificial intelligence, including Meta Platforms' Muse assistant, poses a material threat to Amazon's e-commerce dominance or advertising model. The upgrade follows market weakness that saw Amazon shares retreat 13.15% between early August and late September, alongside a nearly 4% drop after Muse's September 8 debut. Amazon shares remain up 8.91% year-to-date.