Should Investors Buy Amazon Stock Following Its Streaming Deal With Comcast?

CNBC's "Squawk Box" host Melissa Lee reported Friday that Amazon.com Inc (NASDAQ:AMZN) signed a new streaming deal with Comcast Corp (NASDAQ:CMCSA).

Under the terms of the deal, new theatrical releases will premiere on Amazon Prime Video following a four-month run on Comcast's Peacock platform. The films will remain on Amazon Prime Video for 10 months before returning to Peacock for another four months. The multi-year deal is set to begin in 2022.

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Argus Research reiterated its Buy rating and $4,000 price target on Amazon today. The analyst firm cites Amazon's strong positioning in both e-commerce and cloud computing as reasons why the stock should be bought by most investors.

Amazon "warrants long-term accumulation in most equity accounts," Argus Research said. 

Price Action: Amazon set a new 52-week high in trading yesterday.

At last check Friday, the stock was down 0.50% at $3,712.90.

Photo: Courtesy of Amazon.

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