Amazon.com, Inc. (NASDAQ:AMZN) Narrowing Netflix Inc., (NASDAQ:NFLX) Gap, Says Cantor

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In an analyst note released by Cantor Fitzgerald today, the firm said Amazon.com, Inc. (NASDAQ:AMZN)’s deal with Time Warner Inc (NYSE:TWX) to bring select HBO content to Prime helps the service narrow the gap with Netflix Inc., (NASDAQ:NFLX). The firm views the deal as a headline negative for Netflix, but Cantor still believes Netflix and Prime are complementary services. Cantor estimates the deal’s value at $200M to 400M per year, which is not cheap but can be justified by the recent price hike for Amazon’s Prime service.

Analysts have a consensus price target of $417 on Amazon.com, Inc. (NASDAQ:AMZN) which indicates a 26% upside. The consensus rating of the stock is a BUY with a score of 2.74. There are currently 6 Hold Ratings, 25 Buy ratings, 1 Strong Buy ration and 2 Sell ratings on the stock.

The most recent analyst action consisted of Argus upgrading the stock from Hold to Buy with a $480 price target on the stock.

Analysts have a consensus price target of $378.71 on Netflix Inc., (NASDAQ:NFLX) which indicates a 1.58% upside. The consensus rating of the stock is a HOLD with a score of 2.30. There are currently 23 Hold Ratings, 4 sell ratings and 15 Buy ratings on the stock.

The most recent analyst action consisted of Jeffries reiterating their underweight rating and price target of $300.

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