.September 3, 2024, 3:35 PM

JMP Securities analysts raised Amazon.com’s price target to $265, up from $245, while maintaining a Market Outperform rating. They highlighted Amazon’s strong advertising capabilities, driven by its full-stack platform and Prime membership data. The analysts noted that Amazon’s CTV advertising has lower costs and ad loads compared to competitors. They project Prime Video will generate nearly $2 billion in ad revenue by 2024, with potential for growth. Additionally, they believe Amazon will expand its ad-tech capabilities to the broader web, creating new revenue opportunities in its Advertising Services business.