Ad-Supported Prime Video And Positive Analyst Coverage Drive Amazon Shares Higher
Portfolio Pulse from AJ Fabino
Amazon shares rose over 3% after a report suggested the company plans to launch an ad-supported Prime Video streaming service tier. Wells Fargo analyst Ken Gawrelski initiated coverage on Amazon with an Overweight rating and a $159 price target.
June 08, 2023 | 4:22 pm
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NEUTRAL IMPACT
Wells Fargo analyst Ken Gawrelski initiated coverage on Amazon with an Overweight rating and a $159 price target.
Although Wells Fargo analyst Ken Gawrelski's coverage on Amazon is positive, it does not directly impact Wells Fargo's stock price in the short term. The news is more relevant to Amazon's stock performance.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20
POSITIVE IMPACT
Amazon shares rose over 3% on news of a potential ad-supported Prime Video tier and positive coverage from Wells Fargo analyst Ken Gawrelski.
The launch of an ad-supported Prime Video tier could generate more entertainment revenue for Amazon, while positive coverage from a Wells Fargo analyst indicates potential growth in the stock. Both factors contribute to the short-term positive impact on Amazon's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100