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Amazon (AMZN) Price Target Lowered at Morgan Stanley Amid Rising Logistics Workforce Costs, Analyst Expects Stock to be Range Bound in Near Term

September 27, 2021 5:42 AM EDT

Morgan Stanley analyst Brian Nowak lowered the price target on Amazon (NASDAQ: AMZN) to $4,100.00 per share from the prior $4,300.00 amid rising logistics workforce costs.

The cost of labor is rising and Amazon has announced it is looking to hire 125k new staff earlier this month. New workers will be hired at an increased average starting wage of $18 per hour with a sign-on bonus of $3k in some locations.

Nowak notes that the September announcement was the third of this... More

Amazon.com (AMZN) PT Lowered to $4,100 at Morgan Stanley

September 27, 2021 1:15 AM EDT

Morgan Stanley analyst Brian Nowak lowered the price target on Amazon.com (NASDAQ: AMZN) to $4,100.00 (from $4,300.00) while maintaining a Overweight rating.... More