Evercore ISI remains bullish on Netflix ’ s long-term dominance in the streaming space.
Analyst Mark Mahaney reiterated his outperform rating and raised his price target by $40 to $750, which implies about 8.9% upside. Shares are up more than 41% this year.
Netflix shares gained about 1% in morning trading.
The analyst continues to see earnings upside for the stock, particularly if the streaming giant returns to its historical price increase cadence with its subscription plans.
"We stick with the conclusion we have drawn since early ’ 24: Netflix is in the strongest position financially, fundamentally and competitively that we have ever seen. And we see with Live Events and Gaming two very promising long-term greenfield revenue opportunities," Mahaney wrote in the note, pointing to "Squid Games II" and two National Football League games scheduled to release on Netflix in late December.
Mahaney highlighted Evercore ISI ’ s recent quarterly U.S. survey, which reflected reasonably stable satisfaction with Netflix, continued dominance of the company over other streaming platforms, ongoing growth in Netflix ’ s subscription and advertising-based video on demand, or SAVOD, and its rapidly rising Games adoption in the U.S.
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