Morgan Stanley raised its price target on Amazon from $335 to $350, implying 40% upside from Friday’s close, while maintaining an overweight rating and naming the stock one of its top picks. The investment bank highlights that investors underestimate the impact of Amazon Web Services on the company’s revenue and earnings, with expected growth of 47% year-over-year by 2027. Amazon is also poised to benefit from the rise of agentic artificial intelligence in online shopping and the expansion of its robotic fulfillment centers, described as physical AI advantages. Of the 64 analysts covering the stock, 62 recommend a buy or strong buy, and shares have gained more than 8% year to date.
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