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Amazon.Com, Inc (NASDAQ:AMZN) stock is up Thursday as various reports do the rounds.
The third-biggest player in terms of digital ad revenue in the U.S. is eying an advertising-supported Prime Video streaming service tier to boost revenue.
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Separately, Amazon is discussing with Warner Bros. Discovery, Inc (NASDAQ:WBD) and Paramount Global (NASDAQ:PARA) about adding the ad-based tiers of their streaming services through Prime Video Channels.
Bernstein analyst Nikhil Devnani cited the possibility of a Lyft, Inc (NASDAQ:LYFT) takeover by potential suitors Amazon, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) or General Motors Co (NYSE:GM), given the stock's recent returns and the founders stepping back.
Analysts re-rated the stock. Wells Fargo analyst Brian Fitzgerald initiates coverage on Amazon with an Overweight rating and a price target of $159. He named the stock as the firm's Top Pick.
The analyst flagged improving margins and believes the new fulfillment model can boost Amazon shares by more than 30%.
UBS analyst Lloyd Walmsley maintains Amazon with a Buy and raises the price target from $130 to $150.
The session volume surged over 23 million versus the 100-day average of 63 million.
Amazon began the week amid reports of canvassing telecom operators like DISH Network Corp (NASDAQ:DISH), Verizon Communications Inc (NASDAQ:VZ), and T-Mobile US, Inc (NASDAQ:TMUS) about offering Prime subscribers $10 a month or possibly for free. The telecom operators and Amazon denied the reports.
Price Action: AMZN shares traded higher by 3.13% at $125.01 on the last check Thursday.
Photo via Phillip Pessar via Flickr
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.