Piper Jaffray Reiterates Overweight Rating on Amazon.com Following Content Survey
In a report published Monday, Piper Jaffray analyst Gene Munster reiterated an Overweight rating and $325.00 price target on Amazon.com (NASDAQ: AMZN).
In the report, Piper Jaffray noted, “The bottom line after our most recent content survey is that Amazon modestly closed the gap on Netflix following its recent deals (i.e. Viacom), but Netflix still maintains a significant content lead, especially in TV. Our survey indicates that Netflix has 14% (13% Jan-13) of the top 50 movies of the last 3 years, while Amazon has 11% share (9% Jan-13); however, among the top 75 TV shows, Netflix has 33% share (35% Jan-13), while Amazon has only 7% (flat). Going forward, we expect Amazon to pursue both exclusive content deals along with launching exclusive content, while we expect Netflix's focus to shift slightly towards exclusive content.”
Amazon.com closed on Friday at $273.36.
Latest Ratings for AMZN
|Oct 2014||Bank of America||Maintains||Buy|
|Oct 2014||Wolfe Research||Maintains|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.