Jefferies Positive on Amazon's (AMZN) Acquisition of Twitch

Jefferies US Internet Team reiterated a Buy rating and $435 price target on Amazon.com (NASDAQ: AMZN) following the company's acquisition of Twitch for $970 million in cash after the close.

"This is the company's second biggest acquisition to date (after Zappos) and a major step in its digital content strategy," the said. "We believe this move strengthens not only Amazon's content platform but also its eCommerce platform, Amazon Prime and hardware offerings."

For an analyst ratings summary and ratings history on Amazon.com click here. For more ratings news on Amazon.com click here.

Shares of Amazon.com closed at $334.02 yesterday.

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