AMZN ▼ -0.9% - Amazon.com, Inc. $AMZN Citi recommends using the weakness in Amazon AMZN shares after the Federal Trade Commission and 22 states filed a lawsuit alleging Amazon's advertising practices overcharged advertisers by $20B as a buying opportunity. The firm believes advertisers continue to spend more on Amazon based on results while AI demand trends at Amazon Web Services are accelerating. Amazon remains Citi's top pick with a Buy rating and $350 price target. The stock closed Monday down 2.5% to $259.77. Amazon shares fell 0.9% today, continuing a recent pullback that saw the stock drop 2.5% on Monday following an FTC lawsuit alleging the company overcharged advertisers by $20 billion through its advertising practices. Despite the near-term weakness, Citi maintains a Buy rating and $350 price target, arguing that advertiser spending on the platform continues to grow and that accelerating AI demand at Amazon Web Services supports the company's long-term outlook. 01-SEP-2026 06:41 AM ET