Rosenblatt raises Amazon price target to $360, citing AI agents

By Splitfeed EditorialLast updated Sep 30, 2026, 16:20 UTC

On September 30, 2026, Rosenblatt raised its price target on Amazon stock from its previous level to $360, while maintaining a Buy rating on the company. The central argument behind the upgrade was that AI-powered shopping agents, which can autonomously search for and purchase products on behalf of consumers, do not pose a structural threat to Amazon's advertising and retail media business. Separately, Retail Brew reported the same day that Amazon has been actively opening itself up to outside AI agents, suggesting the company is moving toward integration rather than resistance.

The revision matters because it takes a direct position in one of the more consequential open questions in consumer technology right now. The concern driving Wall Street's attention is straightforward: if AI agents begin making purchasing decisions autonomously, they could route transactions through channels that bypass Amazon's ad-supported marketplace entirely, eroding the high-margin advertising revenue that has become a major driver of the company's profitability. Rosenblatt's counter is that Amazon's model is durable enough to absorb or adapt to that shift, and the Retail Brew reporting adds texture to that argument by showing Amazon is not standing still on the question.

None of the three camps, Pro-AI, Anti-AI, and Middle Ground, had published specific reactions to this story at the time of writing. Pro-AI voices would typically treat Rosenblatt's analysis as validation that AI integration creates value rather than destroys it, pointing to Amazon's openness to outside agents as evidence of a productive ecosystem forming around the technology. Anti-AI observers would likely push back by questioning whether a single analyst's price target adequately accounts for longer-term structural disruption, and might argue that Amazon's ad model faces more pressure than the upgrade acknowledges. A middle-ground position would probably hold that the outcome depends heavily on how quickly agent-based shopping matures and whether Amazon can capture enough of that new behavior to offset any displacement of its existing model.

The argument will be tested incrementally as Amazon reports advertising revenue in future quarterly earnings and as the adoption rate of AI shopping agents becomes clearer in consumer behavior data. Any meaningful shift in Amazon's retail media growth figures would give either side concrete ground to stand on.