Citizens Financial Group’s equity research division has reaffirmed a Market Outperform rating on Amazon.com Inc. (NASDAQ: AMZN), setting a price target of $315 per share. The recommendation follows a review of Amazon’s logistics and infrastructure expansion, which the firm views as a structural advantage amid rising capital expenditures across the sector.
The brokerage’s valuation is anchored to an estimated 2027 GAAP earnings per share of $10.99, translating to a forward price-to-earnings multiple of approximately 29x. At the last close of $261.06, Amazon’s shares traded at 23.8x the 2027 EPS estimate and 10.9x projected EBITDA, according to Citizens’ analysis. The firm also cited a trailing twelve-month diluted EPS of $12.44 and a current P/L ratio of 20.92.
Amazon’s logistics footprint has expanded significantly, including a $18 billion investment in northwest Louisiana. The project includes a third data center campus in Shreveport, expected to generate up to 750 full-time roles and support an additional 2,500 positions in the local economy. The initiative underscores Amazon’s broader strategy to enhance cloud and AI infrastructure, aligning with analyst expectations for sustained capital deployment.
Rosenblatt Securities initiated coverage of Amazon with a Buy rating and a $335 price target, while InvestingPro highlighted that 22 analysts have revised earnings estimates upward in recent weeks. Morgan Stanley separately projected that Amazon and peers will boost AI-related capital spending by mid-2026, targeting a return on invested capital of at least 25%.
