Morgan Stanley names Amazon top pick, lifts target to $350
The gist
Morgan Stanley named Amazon a top pick and raised its price target to $350 from $335.
The call lands a week before Amazon's Q3 results.
How it unfolded
- Oct 8, 2026AMZN declined 2% as investors digested the latest round of workforce reductions and broader market volatility.
- Oct 9, 2026Shares rebounded more than 3%.
- Oct 12, 2026Amazon stock fell 1.11% from $262.43 to $259.53 on volume of 25 million shares; Cantor Fitzgerald maintained an Overweight rating while lowering its price target to $310 from $320.