Market News

Amazon Expects FTC’s Verdict on MGM Acquisition by Mid-March: Report

Amazon.com, Inc. (NASDAQ: AMZN) has asked the Federal Trade Commission to give its verdict by mid-March related to the company’s proposed $8.5 billion buyout of the MGM movie and television studio, according to a Wall Street Journal report. The deal was announced last May. 

The e-commerce giant has fulfilled antitrust investigators’ demands by providing all the necessary information. Therefore, Amazon assumes that if the FTC does not come up with any legal issues before the deadline, the deal could be free to complete. However, post-closure of the deal, the commission’s review may continue. 

Notably, the deal is also under review by the European Union’s antitrust enforcers, the delay of which could buy more time for the FTC. 

No comments have been released by Amazon. 

Wall Street’s Take 

Recently, Tigress Financial analyst Ivan Feinseth reiterated a Buy rating on Amazon and a price target of $4,655 (57.37% upside potential).  

Consensus among analysts is a Strong Buy based on 34 unanimous Buys. The average Amazon price target of $4,218.56 implies 42.62% upside potential from current levels. However, shares have lost 15.75% over the past six months. 

Smart Score 

Amazon scores a “Perfect 10” from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

Download the TipRanks mobile app now 

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. 

Read full Disclaimer & Disclosure

Related News: 
Baidu Posts Upbeat Q4 Results; Shares Jump 7% 
ChargePoint Books Loss in Q4; Shares Rise on Revenue Beat 
Snowflake Drops 22% on Surprise Quarterly Loss & Disappointing Guidance

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More
Videos