Investors should buy Amazon on the prospect of it entering the massive autos market, according to Morgan Stanley, which reiterated its overweight rating on the internet e-commerce giant.
"Amazon has rolled out Amazon Vehicles, which (for now?) is a car research destination allowing customers to shop for parts and accessories in a digital Garage," Morgan Stanley's Brian Nowak wrote in a note to clients Thursday.
"The site (for now?) does not allow customers to purchase automobiles (either on platform or off platform). This could change over time though dealer franchise laws prohibit the sale of new vehicles over the internet, but used cars and parts are largely allowed."