Morgan Stanley names Amazon its top pick
Amazon shares rose Monday after the bank picked the stock as a top choice and lifted its price target to $350.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
Morgan Stanley named Amazon its top pick, and the stock climbed Monday after the designation. The firm raised its price target for Amazon to $350 from $335, implying more than 30% upside.
Why it matters
The price target increase implies more than 30% upside for Amazon shares, according to the reports.
Timeline
- Oct 19, 9:53 AM ET: Amazon stock climbed Monday after Morgan Stanley named it a top pick.
- Oct 19, 5:54 PM ET: Morgan Stanley raised its Amazon price target to $350 from $335, implying over 30% upside.
Coverage
- Call of the Day: Morgan Stanley names Amazon a top pick (CNBC)
- Why Amazon Stock Is A 'Top Pick' Despite Investor Fears About Meta's Muse (Investor's Business Daily)
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