Goldman Sachs Hikes Amazon Price Target to $375

Amazon stock is capturing attention again after Goldman Sachs updated its outlook for the company. Managing Director Eric Sheridan maintained a buy rating on the stock this week, suggesting that investors should consider accumulating shares before the price makes a move higher.

The firm increased its price target for Amazon from $335 to $375. This adjustment signals significant confidence from Wall Street, as analysts anticipate a strong finish to the third quarter for the technology sector.

Amazon is currently trading near $278 and faces a minor technical hurdle at the $285 level. If the stock hits the new $375 target, it would represent a return of about 35 percent from its current price. Traders are now watching closely to see if the stock can break through current resistance to reach these new projected highs.