Morgan Stanley Slashes Price Target For Amazon, Sees 19.7% Upside - Read Why - Amazon.com (NASDAQ:AMZN)

Morgan Stanley analyst Brian Nowak has lowered the price target on Amazon.com AMZN to $4,100 from $4,300, implying a 19.69% upside, and reiterated an Overweight.
Nowak's analysis of Amazon's 700,000 person U.S. logistics workforce and rising wages "revealed more profit pressure ahead."
He lowered his 2021 and 2022 EBIT estimates by 16% and 19%, respectively.
Nowak noted that Amazon shares may be range-bound until its revenue can reaccelerate in the first half of 2022.
He saw the company's logistics headcount cost per unit rising 50% year-over-year in 2021.
Price Action: AMZN shares traded lower by 0.80% at $3,396 in the premarket session on the last check Monday.

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Morgan Stanley Slashes Price Target For Amazon, Sees 19.7% Upside - Read Why