Amazon.com Inc. (NASDAQ:AMZN) posted some unusually negative numbers in its earnings report – with its profits dropping by nearly half from a year earlier – but the stock has been treated quite well by the markets in the days since the earnings release. and now there has been some others who are apparently bullish on what Amazon is doing.
The first of the latest bullish news items on behalf of Amazon.com Inc. (NASDAQ:AMZN) has to do with the very popular PBS series “Downton Abbey.” While past episodes of the show have been available for streaming on Amazon Prime Instant Video and Netflix Inc. (NASDAQ:NFLX), Amazon has gone a step further by winning an exclusive vice-streaming license deal with PBS Distribution for Seasons 3 and 4 of the Abbey. Starting in mid-June, Amazon’s Prime Instant Video service will be the only place to get the most recent episodes of the show, as Netflix gets shut out. The Abbey is the most popular TV show streaming on Amazon’s service already. By the end of this year, all “Downton Abbey” episodes will be pulled from all other subscription services.
In other news, the momentum of Amazon.com Inc. (NASDAQ:AMZN) in the markets continues to roll downhill, as Bank of America Corporation (NYSE:BAC) just reaffirmed its “buy” rating on the stock, upping the price target from $300 to $315 per share.
In its research note to investors, Bank of America wrote, “We think Amazon’s focus on the customers and the buyer experience is right for the Internet, and we consider Amazon a transformational company. We think Amazon is well positioned to capitalize on the global growth of eCommerce and other secular trends such as cloud computing, online advertising, tablets, and mobile commerce.”
Overall, 31 of 43 analysts have given Amazon.com Inc. (NASDAQ:AMZN) a “buy” or “overweight” rating of the stock, which has an average price target of just shy of $315 per share among those analysts.
What do you think about Amazon.com Inc. (NASDAQ:AMZN)? Is this positive momentum warranted in light of the earnings report? Give us your thoughts about either item in this story or about the company or stock in general in our comments section below.
DISCLOSURE: I own no positions in any stock mentioned.
Please see these related AMZN articles: