TD Cowen Reiterates Buy on Amazon at $350 as Grocery Delivery Expands

On May 18, 2026, TD Cowen reaffirmed its Buy rating on Amazon with a $350 price target, citing robust Q1 results and rapid rollout of 30-minute grocery delivery. The note follows Jim Cramer’s May 18 comparison praising Amazon’s same-day speed over Walmart despite TD Cowen’s earlier May 7 upgrade of WMT to $150. Amazon reported Q1 revenue of $181.5 billion, up 17% year-over-year, with over one billion items delivered and roughly 90,000 SKUs available for one-to-three-hour delivery. Management highlighted Prime-member discounts and continued logistics scale as drivers of near-term upside, reinforcing investor preference for AMZN shares.