Amazon: BofA renews buy recommendation, $210 price target

(CercleFinance.com) - Bank of America on Monday renewed its Buy recommendation and $210 price target on Amazon.
com, indicating that advertising revenues generated by Prime Video would exceed internally established forecasts.

According to the broker, the Internet giant has already secured commitments for more than $1.8 billion from its advertisers for the coming year.

According to BofA, this figure suggests that Amazon could generate between $3.5 and $4 billion in advertising revenues by 2025.

This is good news according to the broker, who estimates that the Seattle-based group has invested some $9 billion in content, including costly contracts with the NFL and NBA.

While the professional notes that these figures are still lower than the even stronger start-up he could have anticipated, he acknowledges that this robust performance compared to its competitors suggests that the company is on the way to building a solid streaming platform.

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