Amazon (NASDAQ: AMZN) stock is seeing renewed bullish momentum from Wall Street after announcing on April 14 that it will acquire Globalstar in a deal valued at approximately $11.6 billion.
Following the announcement, analysts across major firms reiterated Buy ratings and updated their price targets, pointing to long-term upside tied to satellite connectivity, artificial intelligence, and cloud expansion. With AMZN shares trading at $248.62 at the time of publication, most targets imply double-digit upside over the next 12 months.
Wall Street’s AMZN price targets cluster between $265 and $360
Among the latest calls, Ronald Josey of Citigroup reaffirmed a Buy rating with a $285 price target, implying roughly 14.6% upside. He said the Globalstar deal could accelerate Amazon’s low-Earth-orbit satellite plans by giving the company access to existing spectrum and infrastructure, allowing it to scale faster rather than building from scratch.
Roth Capital Partners also maintained a Buy rating with a $285 price target, noting the acquisition “meaningfully de-risks” Amazon’s spectrum position and strengthens its ability to deploy a large-scale connectivity network while opening up new cloud-related opportunities.
Multiple firms reiterate Amazon stock Buy ratings
Across the Street, the bullish stance remains consistent. Joe Feldman of Telsey Advisory set a $300 price target, while Ken Gawrelski of Wells Fargo reiterated a $305 target, representing some of the higher-end expectations.
At Rosenblatt Securities, Barton Crockett raised his target to $296 from $249.02, reflecting growing confidence following the deal. Meanwhile, Justin Post and Eric Sheridan both maintained Buy ratings with $275 price targets, while Mark Shmulik set a slightly more conservative $265 target.
Youssef Squali of Truist Financial also reiterated a Buy rating, although without specifying a price target.
Loop Capital leads with $360 bull case
Loop Capital remains the most bullish, maintaining a $360 price target, the highest among major firms covering the stock.
The firm believes that while Amazon’s satellite investments have weighed on margins in the past, upcoming changes in how those costs are accounted for could ease pressure going forward. It also pointed to growing demand for AI services through Amazon Bedrock and improving visibility into AWS growth as additional upside drivers.
Globalstar deal strengthens Amazon’s long-term positioning
Analysts broadly agree the Globalstar acquisition is a strategic move that strengthens Amazon’s position beyond its core e-commerce and cloud businesses. By securing satellite spectrum and infrastructure, the company can accelerate deployment of its network and integrate connectivity directly into its AWS ecosystem.
While some firms acknowledge this marks a more capital-intensive phase, they also view it as a necessary step that reduces execution risk and opens up a much larger long-term opportunity in global connectivity and services.
All in all, following the April 15 announcement, analyst sentiment remains decisively positive, with Buy ratings across the board and Amazon stock price targets ranging from $265 to $360.
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