New Delhi, Oct. 27 -- Amazon shares have received a fresh boost from bullish brokerage calls ahead of the company's September-quarter results, with Morgan Stanley naming the e-commerce and cloud computing giant its top pick and UBS raising its price target, citing the potential for stronger profitability at Amazon Web Services (AWS).

Morgan Stanley raised its price target to $350 from $335, reiterating its 'Overweight' rating, while UBS lifted its target to $348 from $318 and maintained its 'Buy' rating. Both brokerages see scope for further gains, driven largely by accelerating cloud growth, artificial intelligence (AI) opportunities, and improving operating efficiency.

However, the optimistic outlook comes as Amazon prepares to signif...