What's Going On With Amazon Stock Thursday
Portfolio Pulse from Anusuya Lahiri
Amazon stock is up as the company explores an ad-supported Prime Video streaming service tier and discusses adding ad-based tiers of Warner Bros. Discovery and Paramount Global's streaming services. Analysts re-rated the stock, with Wells Fargo initiating coverage with an Overweight rating and a price target of $159, and UBS raising the price target from $130 to $150.
June 08, 2023 | 2:57 pm
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Amazon stock is up as it explores an ad-supported Prime Video streaming service tier and discusses adding ad-based tiers of Warner Bros. Discovery and Paramount Global's streaming services. Analysts re-rate the stock with higher price targets.
The news of Amazon exploring an ad-supported Prime Video tier and discussing partnerships with Warner Bros. Discovery and Paramount Global is positive for the company's revenue growth. Additionally, analysts re-rating the stock with higher price targets indicates a bullish outlook for the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100