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.
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
