Jefferies reaffirms its 'buy' recommendation on Netflix with a price target raised from $655 to $780, deeming the video streaming platform 'well positioned for another exceedance of subscription expectations in the second quarter'.

The broker highlights near-term upside potential thanks to strong content releases, such as Bridgerton, NFL games and Squid Game, as well as the success of password-sharing initiatives.

Looking ahead, Jefferies sees content releases scheduled for the second half of 2024 supporting growth. Consequently, it is increasing its full-year subscription assumption by 1.3 million.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.