Morgan Stanley Lifts Amazon Target to $350 Amid AWS Growth and Higher Capital Spending
Photo: TokenPost
Morgan Stanley raised its 12-month target for Amazon.com Inc. (AMZN) shares to $350, a move that comes as cloud revenue grows and higher companywide capital spending weighs on cash flow. Morgan Stanley analyst Brian Nowak increased the target from $335 on Oct. 19. The new figure is 33.4% above Amazon’s $262.45 closing price that day. It is an estimate for the shares over 12 months, rather than a price they have reached. The $350 target also exceeds the $330.49 average of 44 analyst targets recorded during the three months through Oct. 20.
Source: TokenPost
