Amazon (AMZN) Stock News: Wells Fargo and Cantor Trim Targets but Expect AWS to Accelerate

Two brokerages reduced their Amazon price targets ahead of the company’s third-quarter report while keeping positive ratings, according to reports of notes from around October 12.

The notes#

Wells Fargo and Cantor Fitzgerald each lowered their targets and kept Overweight ratings. As reported, Wells Fargo expects Amazon Web Services growth to accelerate in the fourth quarter and expects the company to reiterate a 2026 capital expenditure plan of roughly $220 billion. Cantor, as reported, looks for healthy acceleration in cloud growth and strong earnings before interest and taxes margins. The exact revised targets could not be confirmed from a second source and are omitted; the firm’s prior published changes show the pattern of small adjustments.

Why it matters for the stock#

For readers following AMZN, the two notes frame the quarter the same way the market does: AWS growth rate and capital spending are the two numbers, and lower targets with unchanged ratings signal valuation caution rather than a change of view on the business. The company’s own fourth-quarter guidance will matter more than either note.

Published October 21, 2026. Informational reporting, not investment advice. Analyst ratings and targets are the opinions of the firms named, as reported by the cited sources, and can change without notice. TickerPosts has no view on any target.