Amazon is launching a retail media advertising solution to e-commerce retailers, which makes sense when considering the company’s history of marketing its own products and services to other retailers, Citizens JMP tells investors in a research note. However, Amazon already captures the vast majority of retail media ad spend in the U.S., and Citizens do not expect the new offering to have a meaningful impact, particularly in the near-term as the platform remains in beta. Citizens JMP has an Outperform rating and $285 price target on Amazon shares.
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