Morgan Stanley Equity Strategist Recommends Taking Profits in Amazon (AMZN)

Morgan Stanley equity strategist Michael Wilson removed Amazon (NASDAQ: AMZN) from its Fresh Money Buy List, while adding Citizens Financial Group (NYSE: CFG) and PVH Corp. (NYSE: PVH). Wilson said they are locking in profits in Amazon. The firm's fundamental analyst, Brian Nowak, remains positive on the stock.

Wilson commented, "We close out AMZN on our list as we shift our toward higher beta cyclicality. As perhaps the biggest and most obvious beneficiary of work from home, we think that trend has played out in the stock for the most part. Our fundamental analyst, Brian Nowak, remains positive on the stock and the long term thesis but after 27% relative performance vs the S&P 500 and with the stock briefly exceeding Brian's $2400 price target last Thursday, we lock in profits today."

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