Analysts predict Amazon (AMZN) stock price in next 12 months

Unlike many other major technology companies, Amazon (NASDAQ: AMZN) has, so far, evaded the worst of the early October stock market sell-off, and the latest Wall Street rating revisions indicate the equity’s success is likely to grow larger in the next 12 months.

Specifically, Morgan Stanley (NYSE: MS) analyst Brian Nowak issued a ‘Buy’ recommendation for AMZN shares on October 19, while also raising his price target from $335 – 27.64% above the latest close at $262.45 – to $350, for a 33.36% predicted upside.

The Wall Street expert also reiterated his firm’s belief that the strength of Amazon Web Services (AWS) and its growth is ‘under-appreciated’ and will enable Jeff Bezos’ company to generate about $16.50 of 2028 earnings-per-share (EPS).

Morgan Stanley also named AMZN stock a top pick in the October 19 note.

Wall Street sets Amazon stock price target for the next 12 months

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