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…
