BofA, JPMorgan, Oppenheimer Name Their 3 Favorite AI Stocks, One Has a $255 Target

Top Wall Street analysts at Bank of America, JPMorgan and Oppenheimer have identified three AI stocks they believe remain well-positioned for further gains following strong quarterly earnings.

Their bullish outlooks reflect expectations that AI investment will remain strong despite ongoing concerns about valuations and the sustainability of spending.

3 AI Stocks TipRanks’ Top Analysts Are Most Bullish On in August 2026

The picks, Palantir Technologies, Amazon and Lam Research, span different parts of the AI ecosystem, from enterprise software to cloud computing and semiconductor manufacturing.

Palantir’s Commercial AI Business Continues to Accelerate

Bank of America analyst Mariana Perez Mora reiterated a Buy rating on Palantir with a $255 price target after the company’s second-quarter results exceeded expectations.

US commercial revenue surged 149% year over year, increasing its share of total revenue to nearly 40%, up from roughly 30% a year ago. The company also expanded its US commercial customer base 35% to 653, while trailing 12-month revenue per customer climbed 76% to $3.5 million.

Following the results, Palantir raised full-year guidance and now expects at least 134% US commercial revenue growth. Mora also increased her 2026–2028 revenue and earnings forecasts, citing stronger contract value and deeper customer relationships.

She views Palantir’s commercial business as the company’s primary growth engine, driven by customers seeking measurable returns from AI deployments. Shares closed near $172 on August 7.

Mora’s $255 target therefore implies a 48% climb above current levels.

Amazon’s AI Momentum Boosts AWS Outlook

JPMorgan analyst Doug Anmuth raised Amazon’s price target to $365 from $330 while maintaining a Buy rating and naming the stock a Best Idea.

Amazon Web Services delivered 37% revenue growth during the second quarter, its fastest expansion in 18 quarters. Meanwhile, while companywide forex-neutral revenue increased 20%, the strongest pace in five years.

AWS backlog climbed to $496 billion, up nearly 2.5x year over year and 36% sequentially. Anmuth attributed the momentum to growing AI workloads, continued demand for core cloud services and Amazon’s custom AI chips.

He modestly lifted his 2026 and 2027 forecasts, arguing that Amazon’s AI investments continue to generate attractive returns.

A move to $365 would imply a 33% move above $274, where shares closed on Friday.

Lam Research Could Benefit From the Next AI Chip Expansion

Oppenheimer analyst Edward Yang maintained a Buy rating on Lam Research with a $400 price target after the semiconductor equipment maker beat fiscal fourth-quarter expectations.

Yang highlighted stronger customer support revenue and a doubling of NAND revenue while noting management raised its 2026 wafer fabrication equipment spending outlook to the low-$150 billion range.

He also expects 2027 to be an unusually strong year as chipmakers work through supply constraints while building eight to ten new fabrication plants. Based on that outlook, Yang increased his 2027 and 2028 revenue and earnings estimates by 7% to 9%. Shares traded near $311.

He sees Lam Research as a direct beneficiary of AI-driven demand for advanced memory, logic and packaging technologies. .

AI Spending Remains the Common Theme

Although they operate in different markets, all three companies are benefiting from the same trend: rising AI investment:

• Palantir is monetizing enterprise AI software.
• Amazon is capturing growing cloud demand through AWS, and
• Lam Research supplies the manufacturing equipment needed to produce increasingly complex AI chips.

The analysts behind the calls, Mariana Perez Mora, Doug Anmuth and Edward Yang, each hold five-star ratings on TipRanks based on historical performance.

While elevated valuations remain a risk, the analysts argue that continued AI adoption, expanding cloud workloads and higher semiconductor capital spending could provide additional upside if current growth trends persist.

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