Amazon Shares Hit Fresh High on Morgan Stanley Upgrade
Shares of Amazon.com Inc. hit fresh all-time highs Monday after a Morgan Stanley upgrade boosted sentiment surrounding the online retailer.
Th firm cited Amazon’s growing network used to fulfill orders on the retail site, and raised estimates for 2016 sales to $166 billion from $145 billion. That will come as Amazon’s share of global merchandise volume, or total sales, will rise to 23.5 percent by 2016 from 14 percent last year, the firm wrote.
