In what could prove to be a major win for Amazon (NASDAQ:AMZN), the tech giant could win unconditional approval from the European Union (EU) antitrust authority for its $1.4 billion acquisition of robot vacuum maker iRobot (IRBT), according to Reuters.
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The EU had warned Amazon back in July that the deal could reinforce Amazon’s leading position as an online marketplace, besides reducing competition when it comes to robot vacuum cleaners.
Amazon aims to add iRobot’s Roomba robot vacuum to its portfolio of smart devices, including the Alexa voice assistant, smart thermostats, and wall-mounted smart displays.
Is Amazon a Strong Buy Now?
Analysts remain bullish about AMZN with a Strong Buy consensus rating based on a unanimous 41 Buys. Even as AMZN stock has surged by more than 65% year-to-date, the average AMZN price target of $175.91 implies an upside potential of 19.6% at current levels.
