Amazon.com, Inc. (NASDAQ: AMZN) has been a huge beneficiary of consumer spending shifting away from experiences such as travel, live events, amusement parks and restaurants, according to Morgan Stanley. The Amazon Analyst: Brian Nowak has an Overweight rating on Amazon with a $3,750 price target. The Amazon Takeaways: About $30 billion to $60 billion of monthly “experience spend” is likely up for grabs for the remainder of 2020, even as the world reopens, Nowak said in a note.Apart from the shift in spending, Amazon also stands to benefit from the shelter-in-place holiday shopping season, with less …read more
Source:: Yahoo Finance
