# Phillip Securities Raises Amazon Price Target to $330, Upgrades Rating By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/46312 Published: 2026-11-02T10:38:06.000Z Updated: 2026-11-02T10:38:06.000Z Section: Investing > Helena Wang raised fiscal 2027 revenue, adjusted profit and capital expenditure estimates by 2%, 3% and 3%, respectively, as AWS sales grew 39.3% year over year. Phillip Securities Research raised its Amazon (AMZN) price target by $10 to $330 and upgraded the stock to Buy from Accumulate, revising its fiscal 2027 estimates as cloud sales grew and investment needs increased. The rating change was dated Monday, Nov. 2. Analyst Helena Wang lifted the firm’s fiscal 2027 revenue estimate by 2% and its adjusted profit after tax and minority interests estimate by 3%. She also raised the firm’s capital expenditure estimate by 3%. Amazon Web Services (AWS) generated $45.984 billion in sales in the quarter ended Sept. 30, up 39.3% from a year earlier. Amazon’s total net sales rose 12% year over year to $201.9 billion, while operating income reached $28.1 billion. CEO Andy Jassy said, “Our AWS investment in functionality and infrastructure is working.” Wang’s investment case points to AWS demand and Amazon’s AI capabilities, including its model-agnostic approach, custom chips and partnerships. She expects Amazon to increase spending meaningfully in fiscal 2027, as the company continues to invest in infrastructure. Those investments weigh on cash flow. Amazon recorded a $42.4 billion free cash flow outflow for the 12 months ended Sept. 30. The company attributed the decline primarily to a $94.8 billion year-over-year increase in net purchases of property and equipment, mainly reflecting AI investment. Amazon’s Oct. 29 guidance called for about $220 billion in cash capital expenditures for 2026. Amazon’s guidance covers 2026, while Wang expects spending to increase meaningfully in fiscal 2027. She wrote, “Aggressive CapEx creates FCF pressure, but strong demand visibility supports sustained infrastructure investment.” The rating change follows [Amazon’s Oct. 30 earnings reaction](). ## Links in this article - [Amazon’s Oct. 30 earnings reaction](https://www.tokenpost.com/news/business/44684)