There’s very little that e-retailing giant Amazon (NASDAQ:AMZN) can’t take on, thanks to its market cap and name recognition. A Federal Trade Commission (FTC) lawsuit, however, may be one of those, and the next one might hit as early as this Tuesday. Investors, meanwhile, were concerned and sold off some of their stock, sending Amazon fractionally lower in Friday afternoon’s trading.
Amazon’s potential antitrust practices will get their day in court soon, noted a Politico report. Though the exact details of the suit weren’t known or released, if the suit goes through as planned on Tuesday, then we’ll likely all know about it then. One of the big causes of any delay, however, is that the FTC is trying frantically to get states to sign onto the complaint, which would give it some more leverage from there. While Amazon’s legal team did, at last report, meet with elements of the FTC to try and head off a lawsuit, Amazon’s lawyers offered little in the way of concessions, so a lawsuit is that much more likely.
Is Amazon a Buy, Hold, or Sell?
Meanwhile, Amazon enjoys substantial analyst support. With 39 Buy ratings and one Hold, Amazon stock is almost unanimously a Strong Buy. Further, Amazon stock offers investors a 35.97% upside potential thanks to its average price target of $175.63.