Amazon could surge 35% with AWS worth more than $500 billion, analyst says

Amazon Web Services at the 2019 CERAWeek in Houston, TX.
Mary Catherine Wellons | CNBC

Amazon's stock could be worth $2,500 a share in one year, Cowen said, valuing its Amazon Web Services business at a whopping $505 billion.

Cowen raised its 12-month price target for Amazon to $2,500 from $2,400, which would translate into a 35% gain for the e-commerce giant based on its trading level of about $1,845 on Tuesday. The firm is bullish on the AWS segment, seeing its revenue to grow at a 31% rate from 2019 to 2024.