12:46 PM EDT, 04/30/2026 (MT Newswires) -- Amazon's (AMZN) backlog ramp, including $100 billion from Anthropic, points to accelerating revenue growth in 2026 and 2027, UBS said in a Thursday report.

"While there may still be some variability on the magnitude, the backlog ramp continues to point the way to accelerating revenue growth throughout 2026 and 2027, which should in turn raise investor confidence on ROIC,"the note said. ROIC refers to return on invested capital.

For 2026, the base case for Amazon Web Services growth is now 36%, the report said, adding that consolidated near-term revenue estimates have also moved up, driven by the e-commerce business following Q1 beat.

UBS reiterated its buy rating and boosted its price target to $333 from $304.

Price: 259.19, Change: -3.85, Percent Change: -1.46