Morgan Stanley Sees 28.6% Upside for Amazon Stock Over Next 12 Months
Morgan Stanley analyst Brian Nowak expects Amazon's stock to reach a new all-time high in the next 12 months, according to a recent note sent to clients. He reiterated his 'Buy' rating and set the bank's 12-month price target at $335 for AMZN.
This would represent a potential 28.6% upside from the current trading price of $260.50. Nowak also predicted that Amazon could surge by 91.94% to hit $500 by the end of 2027, driven by accelerated AWS sales and increased AI spending.
AWS registered a 37% year-over-year increase in sales to $42.2 billion in the second quarter, while Amazon's overall revenue reached $200.6 billion, a 20% YoY gain. The company is undertaking massive data center expansion amid rising demand for AI compute from enterprises.