7/15, 3:27 PM (Source: TeleTrader)
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Morgan Stanley boosts Amazon target to $2,300

The biggest ecommerce system operator in the United States was maintained at overweight on Monday by Morgan Stanley as it kicked off this year's Prime Day with more than one million offers for the members of its subscription scheme in 18 countries. Inc.'s price target was also raised to $2,300 per share from $2,100, the bank's analysts said.

The event will last 48 hours beginning from midnight PT, the most since it was introduced in 2015. This time it included the United Arab Emirates. Some consumers gained early access via Alexa on an Echo device on July 13.

Amazon finished 0.5% up at the last closing bell, reaching $2,011 per share. It gained 33.89% year to date compared to a surge of 25.49% in the benchmark Nasdaq 100 stock index. The company led by founder and chief executive Jeff Bezos was 0.54% higher in premarket trade.

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