Amazon hits high on upgrade

Investor's Business Daily

Shares of the online retail giant rose to an all-time high early Mon. after Morgan Stanley boosted its rating from equal weight to overweight, citing expected growth in that sector. The bank said it expects global e-commerce sales to top $1 tril by '16, up from $512 bil in '12, Bloomberg said. Morgan Stanley also estimated Amazon (AMZN) will achieve a 23.5% share of the global e-commerce market in '16, up from its prior projection of 20.6%. Amazon shares rose 3.6% to 268.46.

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