Deutsche Bank Lifts New York Times (NYT) PT After AI Deal with Amazon

On May 30, Deutsche Bank increased the price target on The New York Times Company (NYSE:NYT) from $66 to $69 and maintained its Buy rating on the stock.

Benjamin Soff from Deutsche Bank raised his price target on NYT following the company’s AI deal with Amazon.com, Inc. (NASDAQ:AMZN). On May 29, The New York Times announced that it would license content from across its newsroom to train Amazon AI models. The e-commerce giant will use NYT’s editorial content for AI products such as Alexa. Under the multi-year deal, Amazon’s AI services will use Times content, including from sports website The Athletic, to NYT Cooking, to produce summaries and short excerpts in real-time.

“The collaboration will make The New York Times’s original content more accessible to customers across Amazon products and services, including direct links to Times products, and underscores the companies’ shared commitment to serving customers with global news and perspectives within Amazon’s AI products,” the Times said in a statement.

Deutsche Bank Increases PT on New York Times (NYT) Stock After AI Deal with Amazon

A team of reporters in a newsroom, gathering the latest news for broadcast.

Soff sees this deal as a positive for NYT and believes that the agreement is a “significant milestone” for the company. This deal will bring valuable opportunities to market the Times to a wider audience and gain more subscriptions.

The New York Times Company (NYSE:NYT), along with its subsidiaries, collects, produces, and distributes news and information globally. The company has two segments, The New York Times Group and The Athletic.

While we acknowledge the potential of NYT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NYT and that has 100x upside potential, check out our report about this cheapest AI stock.

Read Next: 30 Best Stocks to Buy Now According to Billionaires and 15 Small-Cap Healthcare Stocks Hedge Funds Are Buying.

Disclosure: None.