Amazon’s ad business will boost the internet giant’s shares, according to one top Wall Street firm.

Morgan Stanley increased its “bull case” price target for Amazon shares to $2,100 from $2,000. The new price represents 52 percent upside to Thursday’s closing price. The firm also raised its “base case” forecast for the stock to $1,400 from $1,250.

If the company’s stock reaches the “bull case” forecast, Amazon’s market value would be $1.01 trillion.

Analyst Brian Nowak told clients in a note Friday that he had previously underestimated the advertising aspect of Amazon’s business, saying we “remain bullish Amazon’s ad opportunity as the company continues to drive its high margin revenue stream businesses that enable it to invest harder than ever and deliver upward revisions.”

The analyst reiterated his overweight rating for Amazon shares.

He predicts the $55 billion currently being spent by companies to get good shelf space and other advantages with brick and mortar retailers could move to online ad spending, benefiting Amazon. As a result, he estimates Amazon’s sponsored ad business will grow 54 percent per year from 2016 to 2019.

Amazon shares rose 1.1 percent in Friday’s premarket session.

The company will report its fourth-quarter earnings results on Feb. 1.