Morgan Stanley maintains its Overweight rating and $260 price target on Amazon.com AMZN as it sees the stock is its highest-conviction, long-term idea.
Morgan Stanley notes its reasons: "Long-term, sustainable revenue growth opportunities; eCommerce leader that continues to take market share from offline and online channels; Broad selection / superior customer experience / ease of use creates superior user experience, drives loyalty; Focus on customer has led to double-digit y/y active customer / seller growth."
AMZN closed at $179.03 per share on Thursday.
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