Can Amazon Compete in the Set-Top Box Jungle?
Rumors about Amazon.com Inc.’s (NASDAQ:AMZN) plans for a TV set-top box are stirring again after the company’s stock was boosted by an upgrade from UBS and investors wait for the e-commerce giant’s third-quarter earnings report to be released Thursday.
UBS analyst Eric Sheridan upgraded his price target on Amazon’s stock to $385 from $305 per share and raised his rating from neutral to buy, according to MarketWatch. Sheridan said that he has high expectations for the company’s fourth-quarter revenue and is optimistic about Amazon’s ability to grow its Kindle ecosystem internationally.
Speculation about a possible set-top box from Amazon has been making the rounds for a while, but The Wall Street Journal published an article earlier this month suggesting that the device may be ready by the holiday shopping season.