The attorney general for Washington, D.C. is suing online retailer Amazon (AMZN) after the company made cuts to its Prime delivery service in the U.S. capital.
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Amazon has allegedly cut expedited delivery service to two neighborhoods in Washington, D.C., citing safety issues. This meant slower delivery times for those two neighborhoods, even for customers who were paying Prime memberships that are supposed to guarantee expedited parcel delivery.
Amazon representative Kelly Nantel said that Amazon wants to deliver items as fast as it can but also has to “put the safety of delivery drivers first.” Amazon also said that it reached out to the attorney general’s office to offer advice on how to reduce crime and improve safety in the neighborhoods.
A New Warner Connection?
In other news, there is new word of a possible connection between Amazon and Warner Bros Discovery (WBD). The report noted that current broadcast deals for HBO are expiring in the United Kingdom, Italy, and Germany, and that might open up the potential for Amazon to step in and distribute HBO Max services in those parts of Europe.
Trying to figure out HBO access in those areas has been a problem for Warner Bros. Discovery since 2020. Since HBO was originally part of cable television operations, it fell under certain licensing agreements that made it tougher to roll out a streaming equivalent. But with those arrangements ending, there is potential for a major shake-up.
Is AMZN Stock a Good Investment?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMZN stock based on 45 Buys and one Hold assigned in the past three months, as indicated by the graphic below. After a 48.09% rally in its share price over the past year, the average AMZN price target of $239 per share implies 9.84% upside potential.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
