$Amazon.com(AMZN)$ Rosenblatt raised its Amazon price target to $360 from $335 and kept a Buy rating. The firm pointed to concern that personal agents and AI shopping assistants could displace Amazon's retail media model as they compress the discovery and purchase funnel. Rosenblatt argues that risk is overstated, calling the narrative false and noting this is not the first time Amazon has faced pressure from secular changes in consumer behavior. The firm also raised its long-term estimates, saying it has conviction Amazon can navigate this transition largely unaffected even if the advertising model changes.
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