By Dhirendra Tripathi
Investing.com – 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.
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