Lates News

Morgan Stanley has listed Amazon as a preferred stock, stating that the firm believes Amazon's expansion in the grocery sector "will release sustainable faster growth momentum." Amazon's stock price rose 0.3% in after-hours trading. Analyst Brian Nowak wrote, "Progress in this sector is expected to drive significant growth for Amazon." He pointed out that expanding the grocery business is a way for Amazon to "improve the utilization of its existing leading logistics network and transportation fleet, as well as purchasing volume"; and in the long term, "obtaining more consumer data in the key category of groceries (including purchasing behavior, brand preferences, etc.) is crucial for Amazon's efforts to build the next generation of intelligent grocery services." Morgan Stanley has a "overweight" rating for Amazon with a target price of $300.