Amazon shares drew two very different kinds of attention this week, and the contrast says plenty about where the debate now sits. On one side, Morgan Stanley handed the stock a fresh vote of confidence. On the other, Wells Fargo and Cantor Fitzgerald trimmed their price targets — even while keeping their bullish ratings intact.
The stock climbed 5.1% following Morgan Stanley’s move, a gain that coincided with a broader rebound in AI-linked equities after the previous week’s selloff, as reported by Reuters. How much of the advance came from the analyst call and how much from the sector-wide recovery cannot be separated out. A separate session saw the shares add 1.5%, a modest bounce that followed Friday’s tech-wide selling pressure but on its own signals no shift in how investors view the company’s spending risks.
Morgan Stanley Moves the Goalposts Up
Morgan Stanley lifted its Amazon price target to $350 from $335 and kept its Overweight rating, naming the…