CNBC's "Squawk Box" host Melissa Lee reported Friday that Amazon.com Inc AMZN signed a new streaming deal with Comcast Corp 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.
See Also: Amazon Stock Is Breaking Out: Here's What Could Happen Next
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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