Amazon.com (AMZN): Another Subscription Music Service - Mizuho
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Mizuho Securities analyst, Neil Doshi, reiterated his Buy rating on shares of Amazon.com (NASDAQ: AMZN) after the company announced Music Unlimited. Amazon Music Unlimited (AMU) is Amazon's on-demand music service which is comparable to Apple Music, Spotify, Google Play Music, etc. The service will cost $9.99 a month or $7.99 for Prime members. For Echo, Dot, or Tap owners, they can get a one-device $3.99 per month subscription. Amazon also revamped its mobile app to feature artists and discovery more prominently. The service will launch in the U.S. today, with the U.K., Germany and Australia to follow.
No change to the price target of $950.
Shares of Amazon.com closed at $831.00 yesterday.
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