Morgan Stanley is getting more bullish on Amazon shares even after its stunning gains so far this year.
The firm reiterated its overweight rating and increased its price target for Amazon shares to $2,500 from $1,850, representing 29 percent upside to Tuesday’s close. It is the highest target out of the 41 analysts who cover Amazon, according to FactSet.
At a $2,500 stock price, Amazon would have a market valuation of about $1.2 trillion.
