---
title: "Truist raises target prices for Amazon and Alphabet due to growth in cloud business"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/288067093.md"
description: "Truist raised the target stock prices for Amazon and Alphabet due to better-than-expected growth in their cloud businesses and maintained a \"Buy\" rating. The target price for Amazon was raised to $320, and for Alphabet to $430. Analysts believe the market has underestimated their revenue growth rate and capital expenditure potential, expecting Google Cloud's revenue growth rate to accelerate to around 80%"
datetime: "2026-05-29T12:18:23.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/288067093.md)
  - [en](https://longbridge.com/en/news/288067093.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/288067093.md)
---

# Truist raises target prices for Amazon and Alphabet due to growth in cloud business

Truist stated that as Amazon and Alphabet's cloud businesses grow and exceed Wall Street expectations, the stock prices of both companies are expected to rise.

The bank raised Amazon's target price from $310 per share to $320, indicating a 17% upside from Thursday's closing price.

Truist also raised Alphabet's target price from $415 per share to $430, which is 10% higher than Thursday's closing price. The firm has given both stocks a "Buy" rating.

Analyst Yusuf Squali stated in a report to clients on Friday: "Based on the backlog as of March 31 and recent transactions, the market consensus revenue forecasts are below where they should be. Ultimately, both companies should grow at a faster pace for a longer time, but capital expenditures will also be higher. However, considering that remaining performance obligations have achieved triple-digit growth, the risks of these investments are gradually decreasing."

Truist expects Google Cloud's revenue growth rate to accelerate to around 80% by the end of this year, up from 63% in the first quarter. In contrast, Wall Street expects the company's revenue growth rate to slow down.

The analyst also noted that Wall Street has underestimated Amazon Web Services' capital expenditures and revenue growth for the fiscal year 2027.

Alphabet, Google's parent company, has seen its stock price rise 25% since the beginning of the year.

Amazon's stock has risen 19% in 2026

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