Amazon (AMZN) stock rose as much as 5% on Monday after Morgan Stanley named it a top pick and raised its price target to $350 from $335, outlining five catalysts that could drive the stock higher.
The new target implies about 40% upside from Friday’s close of $250. With a bear case of $220 a share and a bull case of $410, the firm sees a 3:1 risk-reward ratio.
263.10 +13.10 (+5.24%)
As of 12:22:17 PM EDT. Market Open.
“In a market of see-sawing AI leaders and laggards, we detail 5 catalysts ahead to re-rate shares and drive material outperformance,” analyst Brian Nowak, who kept his Overweight rating, wrote in a note Sunday.
5 catalysts for Amazon
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Faster AWS growth:…
