Morgan Stanley raises Amazon price target and names it top pick, while two whales simultaneously open new long positions worth $3.84 million

BlockBeats news, October 20 — Morgan Stanley analyst Brian Nowak raised Amazon's (AMZN) price target to $350 from $335, maintained an "Overweight" rating, and named it a top pick within the firm's coverage. The firm believes AWS's growth potential and profit margins are not yet fully appreciated, and expects its revenue to grow 47% and 42% in 2027 and 2028, respectively, and forecasts Amazon's 2028 earnings per share at approximately $16.50. All the above figures are institutional forecasts.

According to TradingBeats monitoring, as of press time, the AMZN perpetual contract on Hyperliquid was trading at $263.36, up about 4.01% in the past 24 hours, with a turnover of approximately $26.17 million. Over the same period, the notional value of open interest increased by about $3.28 million, a gain of 12.53%; after excluding price changes, the estimated position size still grew by about 8.16%.

Against this backdrop, at least two whales opened new million-dollar long positions last night. One account bought 4,641.043 contracts at 22:47, with a turnover of about $1.2129 million at an average price of $261.337 (0x30af); another account bought 10,000 contracts between 23:06 and 23:17, with a turnover of about $2.6239 million at an average price of $262.389 (0xcb58).

The two new long positions totaled about $3.8368 million in turnover, with a weighted average entry price of about $262.06.