Although Amazon.com, Inc. (NASDAQ: AMZN) stock has cooled off by more than 9% over the past four weeks after peaking at around $287.20 following a rally fueled by its strong second quarter (Q2) earnings beat, Mark Mahaney, a Wall Street analyst at Evercore ISI, expects a rebound towards a new all-time high (ATH) over the next 12 months. 

Mahaney reiterated a ‘Buy’ rating for Amazon stock, according to a note sent to clients that Finbold analyzed on August 28. He raised this firm’s 12-month price target for AMZN to $355 from $315, representing a 12.64% lift.

With AMZN stock trading at $256.26 on Friday, this analyst suggests a potential 38.53% upside over the next 12 months. 

“Amazon remains a Top Large Cap Long…