Bezos’ Blue Origin Competes to Acquire Musk’s SpaceX Rival.”
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Amazon (NASDAQ:AMZN) founder Jeff Bezos’ space venture Blue Origin is in a race to acquire a competitor of Elon Musk’s SpaceX. According to a Wall Street Journal report, Blue Origin is engaged in a competitive bid with Cerberus, a private equity giant, to snap up ULA (United Launch Alliance). Additionally, industrial conglomerate Textron (NYSE:TXT) has also expressed interest in buying ULA.
ULA is a space launch company jointly owned by Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA). Further, the firm boasts a solid history of about 158 successful launches. In comparison, SpaceX has 291 total launches. While ULA’s valuation remains unclear, the report noted that Jefferies expects ULA to fetch around $2 billion to $3 billion in a sale.
It remains to be seen who eventually acquires ULA. Meanwhile, Blue Origin successfully completed its 24th space mission. Moreover, it introduced a new space mobility program, Blue Ring, to provide in-space logistics and delivery to commercial and government customers.
While this space tourism company is headed in the right direction, let’s look at what the Street recommends for Bezos’ e-commerce and cloud computing company, Amazon.
Is Amazon a Buy or Sell Right Now?
Amazon stock has gained over 83% year-to-date, reflecting strong financial performance in 2023. Its focus on enhancing Prime membership benefits, strength in the cloud business, cost discipline, and investments in Artificial Intelligence (AI) supported the rally in its share price.
Analysts are bullish about AMZN’s prospects, with all 43 analysts covering the stock recommending a Buy. Further, the analysts’ average price target of $180.31 implies 17.21% upside potential from current levels.
