Amazon.com (AMZN), Alphabet (GOOGL), Meta Platforms (META) and other technology stocks are set to benefit from lower China tariffs and a more favorable macroeconomic backdrop, Morgan Stanley analysts said in a note emailed Monday.
The Wall Street firm raised its ratings and price targets across the sector. Meta's price target was raised to $750 from $650, while Alphabet was increased to $205 from $185. Pinterest (PINS) was upgraded to overweight from equal weight.
Amazon remains a Top Pick, the Morgan Stanley analysts said, due in part to the growth in its Amazon Web Services business.
Generative AI-driven revenue acceleration will be a key driver of results at Alphabet and Meta, Morgan Stanley said, raising Alphabet's revenue estimates by 4% in fiscal 2025 and 5% in fiscal 2026, and Meta's estimates by 5% and 7%, respectively.
Price: 712.82, Change: +8.54, Percent Change: +1.21
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