Morgan Stanley analyst Brian Nowak raised the firm’s price target on Amazon.com (AMZN) to $230 from $210 and keeps an Overweight rating on the shares. Following a better than expected Q3 EBIT and Q4 guidance, the firm raised its FY25 and FY26 EBIT forecasts by 10% and 6%, respectively, as it sees lower cost to serve more than offsetting lower merchandise margin trends due to a shift toward lower priced essentials, the analyst tells investors.
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