Amazon just posted what may be its best quarter ever. Revenue beat. Earnings nearly doubled the estimate. AWS hit its fastest growth rate in 15 quarters. And operating margins reached a level the company had never seen before.

Wall Street responded quickly. Five major firms raised their Amazon price targets within hours of the report. JPMorgan’s move was among the most significant.

JPMorgan raises Amazon price target

JPMorgan raised its Amazon price target to $330 from $280 while maintaining an overweight rating, according to CNBC. The new target is based on 32 times estimated 2027 GAAP EPS of $10.37, reflecting the bank’s view that Amazon’s earnings trajectory has improved enough to justify a significantly richer…