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FTC Lawsuit Slams Amazon Stock, But Analysts Remain Bullish on Future Growth

Guavy AI Editorial Team
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Amazon's stock price took an 8.54% hit in August to $259.77 due to a new lawsuit from the FTC and 22 states over alleged deceptive auction practices that allegedly inflated advertising costs.

The complaint alleges Amazon secretly raised its own bids, adding hidden surcharges and using fake bids to mislead over a million advertisers since at least 2018.

Despite this negative news, Wall Street analysts remain bullish on Amazon's prospects, with revised price targets ranging from $315 to $375 within the next 12 months. The average target price stands at $334.05, implying a 28.6% increase from the current price.

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