Morgan Stanley Raises Amazon Target to $350 and Names Stock a Top Pick
Morgan Stanley lifted its Amazon price target to $350 and named the stock a Top Pick, citing AWS growth. Amazon also backed a nuclear project in Indiana.
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what happened
Stocktwits reports that Amazon.com (AMZN) shares rose nearly 5% on Monday and were on track for their best day in almost three months. Morgan Stanley kept its Overweight rating, raised its price target from $335 to $350 and moved the stock to Top Pick status, according to a research report obtained by TheFly. The new target implies about 40% upside from Friday's close.
Analyst Brian Nowak views AWS's growth and profit outlook as under-appreciated and expects revenue growth of 47% in 2027 and 42% in 2028. He tied this in part to Nvidia's statement that AWS will deploy 2 million more Nvidia GPUs across its infrastructure over those two years. The firm projects earnings of $16.50 a share in 2028.
Separately, Amazon agreed to fund a nuclear project in Indiana. X-energy and American Electric Power (AEP) announced a joint development agreement to assess a proposed 960-megawatt small modular reactor in Sullivan County. The site is a former Breed Generating Station property owned by AEP. Amazon will provide milestone-contingent capital for initial feasibility studies. It is the second commercial project from the X-energy and Amazon alliance, which aims to add over 5 gigawatts of new nuclear capacity to the US grid by 2039.
why it matters
A target revision of this size usually moves a single stock, but the cloud outlook keeps Amazon in focus for investors tracking the largest cloud operators. The nuclear deal shows how such companies are seeking long-term power for data centers, which also matters for the energy sector.
market impact
Amazon: strong AWS outlook supports the stock; nuclear projects matter for utilities and SMR developers
tags
instruments
sources
- AMZN Stock Set For Best Day In Three Months: Morgan Stanley Expects Amazon's AWS To Grow 47% In 2027, Denotes Stock As 'Top Pick' — Stocktwits, 19 October 2026 at 17:48 UTC
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