Amazon (AMZN) shares rose about 5% to $262.45 on Monday after Morgan Stanley’s Brian Nowak named the stock a top pick and raised his target to $350 from $335.
The call goes further than the Street on both sides of the ledger. Nowak’s 2028 earnings estimate sits 24% above consensus, and his 2027 capital spending forecast sits 28% above it. Morgan Stanley is betting that more spending turns into more profit, sooner.
What Morgan Stanley Is Betting On
Testing Morgan Stanley Against Amazon’s Consensus
Consensus has Amazon earning $13.26 per share in 2028 on a normalized basis, up 60% from $8.31 this year. Nowak’s $16.50 is 24% higher than that.
The spending gap is wider. Consensus sees capital expenditure of $277.89 billion in 2027, so Nowak’s $355 billion adds another $77 billion in a single year. That lands where free cash flow is already the sore…
https://www.tikr.com/blog/amazon-stock-rises-on-morgan-stanley-top-pick-what-the-350-target-needs
