TradingKey – As of the close on October 19 Eastern Time, Amazon (AMZN) closed at $262.45, up 4.98% for the day, hitting an intraday high of $263.72, with trading volume reaching 56.19 million shares, up from 40.43 million shares in the previous trading session. The driver behind Amazon’s stock surge was that Morgan Stanley (MS) named Amazon a top pick and raised its price target from $335 to $350, which represents a potential upside of approximately 33% based on the latest closing price.
Morgan Stanley analyst Brian Nowak maintained an “Overweight” rating on Amazon and raised the price target from $335 to $350. The firm believes that the market has not yet fully priced in AWS’s growth and profitability over the next two years and listed Amazon as one of its top picks.
Morgan Stanley currently expects AWS revenue to grow by 47% in 2027 and 42% in 2028, up from previous forecasts of 41% and 37%, respectively. This revision is partly based on Nvidia’s disclosed supply plans, which…
