CFRA said Monday it is sticking with its buy rating on Amazon.com Inc. shares, and said it expects the company to bring major long-term disruption to the grocery business after it made a $14 billion bid for Whole Foods Market Inc. . “We think the news could presage a major long-term disruption of the grocery business by AMZN, as the company further leverages its technology, logistics and fulfillment infrastructure,” CFRA analyst Tuna Amobi wrote in a note. Amazon is bidding about $42 a share for Whole Foods, equal to a 27% premium over the stock’s pre-bid closing price. The deal is expected to close in the second half, subject to approvals. Whole Foods stock was trading at $41.98 Monday, below the bid price. It traded above the price last week, prompting speculation that another bidder might emerge. Amazon shares were up about 2%, and have gained 33% in 2017, while the S&P 500 has gained 8.5%.
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