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Amazon Surges to Record High on Global E-Commerce Growth Inc., the world’s largest online retailer, surged to a record after Morgan Stanley said the company’s network of distribution centers will help it win share in an expanding global e-commerce market.

The stock advanced 3.6 percent to $268.46 today in New York, the highest price since the shares began trading in 1997. Morgan Stanley upgraded Amazon to overweight from equal-weight and maintained its $325 price estimate.