Morgan Stanley raised the firm’s price target on Amazon.com (AMZN) to $300 from $250 and keeps an Overweight rating on the shares. The macro backdrop has significantly improved since mid-April when the firm last reduced its price target amid Anthropic, Azure’s Gen-AI and non Gen-AI strength, with CIO survey also offering more conviction in AWS acceleration ahead, the analyst tells investors in a research note. Amazon’s AWS is tactically expected to gain further share over Microsoft (MSFT), Alphabet (GOOGL) and Oracle (ORCL), the firm states.
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