Shares of Amazon.com Inc. climbed nearly 4% Friday after investment firm Evercore ISI raised its price target on the e-commerce and cloud computing giant, pointing to new survey data showing artificial intelligence tools are already driving additional purchases on the company's retail platform.

Amazon stock traded at 266.18 dollars, up 9.92 dollars, or 3.87%, as of 12:19 p.m. Eastern time on the Nasdaq, according to Google Finance data. The move added to a stretch of strong performance for the stock in recent weeks following the company's second-quarter earnings report earlier this month.

Evercore ISI raised its price target on Amazon to 355 dollars from 315 dollars while maintaining its outperform rating on the stock, according to a research note from the firm. The new target implies substantial additional upside from the stock's level heading into Friday's trading session.

The revised target was based in part on findings from Evercore's 14th annual U.S. online retail survey, which the firm said showed early but meaningful evidence that Amazon's investment in agentic artificial intelligence tools, including its Alexa assistant, is translating into incremental sales. According to the survey, 57% of Alexa AI users reported buying a product they had not........

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