Amazon price target raised to $150 from $140 at Morgan Stanley

Morgan Stanley analyst Brian Nowak raised the firm’s price target on Amazon.com to $150 from $140 and keeps an Overweight rating on the shares, stating that the company’s results and guidance showing a "steep improvement in retail profitability" gives the firm more confidence in the scale-driven efficiencies and profits that lie ahead. Though AWS faces near-term macro uncertainty, Morgan Stanley remains "bullish," the firm added.