Morgan Stanley Names Amazon Top Pick and Lifts Price Target to $350

Amazon.com Inc. shares rose over 2% on Monday after Morgan Stanley designated the company as a top pick and raised its price target from $335 to $350. Analyst Brian Nowak maintained an Overweight rating, projecting a $410 bull-case target based on higher AWS revenue growth forecasts of 47% for 2027 and 42% for 2028. Concurrently, Amazon revealed development funding for a 960 MW small modular nuclear reactor project in Indiana alongside X-Energy and American Electric Power to support data centers, ahead of third-quarter earnings on October 29.