Netflix Gains As Credit Suisse Upgrades To Outperform By

Netflix Gains As Credit Suisse Upgrades To Outperform By

© Reuters.

By Dhirendra Tripathi – Netflix (NASDAQ:) rose 2% during Friday’s trading as Credit Suisse (NYSE:) upgraded the stock to outperform from neutral.

The bank kept the target price unchanged at $586, an almost 11% upside from the current level of $528.63.  

Analyst Douglas Mitchelson expects Netflix’s subscriber growth to normalize in the fourth quarter. He expects a stronger full year content slate in 2022 relative to 2021 and sees a favorable risk/reward at current share levels.

According to Mitchelson, the streaming giant still wears the crown in original programming. He expects it to assert its dominance against the emerging rivals.

Netflix faces competition from Disney+ (NYSE:) and Discovery (NASDAQ:) with Comcast Corp (NASDAQ:) also planning a splash in the booming streaming market.

The bank said it expects subscriber growth to normalize and that its recent consumer survey reinforced Netflix’s strong competitive position.



Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a comment

Send a Comment

Your email address will not be published.

Enter text shown below: