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Morgan Stanley bull case puts Amazon over $1T market cap

Published 01/26/2018, 10:02 AM
© Reuters.  Morgan Stanley bull case puts Amazon over $1T market cap
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  • Morgan Stanley (NYSE:MS) increases its Amazon (NASDAQ:AMZN) price target from $1,260 to $1,400, a 1.6% upside on yesterday’s close.
  • Firm raises its bull case price target by $100 to $2,100, which would give Amazon an over $1T market cap.
  • Analyst Brian Nowak says he underestimated the ad aspect of Amazon’s business and the firm remains “bullish Amazon’s ad opportunity as the company continues to drive its high margin revenue stream businesses that enable it to invest harder than ever and deliver upward revisions.”
  • Nowak estimates that Amazon’s sponsored ad business will grow 54% per year from 2016 to 2019.
  • Morgan Stanley maintains an Overweight rating on Amazon.
  • Amazon shares are up 1% to $1,392.03.
  • Now read: How Will The Meltdown Bug Affect Amazon's Crown Jewel?


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