Amazon.com Inc AMZN shares are up more than 12% over the last week and are continuing to trend higher Wednesday morning.
The surge in Amazon shares comes as the company prepares to split its stock. Amazon announced a 20-for-1 stock split in March. Shareholders of record on May 27 will receive 19 additional shares for every one share held on June 3. Trading is expected to begin on a split-adjusted basis on June 6.
- Morgan Stanley analyst Brian Nowak maintained Amazon with an Overweight rating and lowered the price target from $3800 to $3500.
- JMP Securities analyst Nicholas Jones maintained Amazon with a Market Outperform rating and lowered the price target from $3600 to $3450.
See Also: Sum Of Parts Suggests Shareholders Could Get Amazon's Retail Business For Free
AMZN Price Action: Amazon shares have traded between $2,025.20 and $3,773.07 over a 52-week period.
The stock was up 3.18% at $2,482.23 at press time, according to data from Benzinga Pro.
Photo: courtesy of Amazon.
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