Morgan Stanley increased its price target for Amazon, offering investors a higher valuation benchmark alongside forecasts for the retailer’s cloud business and earnings through 2028.
Morgan Stanley analyst Brian Nowak raised the bank’s Amazon target to $350 from $335. The firm kept its Overweight rating and made Amazon its leading pick among the stocks it covers.
For Amazon Web Services (AWS), the bank expects revenue to rise 47% in 2027, followed by 42% growth in 2028.
Morgan Stanley also forecasts Amazon earnings per share of about $16.50 in 2028.
