Netflix: Deutsche Bank downgrades after results

(CercleFinance.com) - On Wednesday, Deutsche Bank downgraded its recommendation on Netflix shares from 'buy' to 'hold', although its price target was revised upwards from $460 to $525.


In a research note published the day after the streaming video giant's quarterly results, the analyst believes that Netflix still represents the most attractive case within the media sector.

However, the intermediary believes that the Californian group's leadership status is well reflected in its share price, with a PER of 32x for 2024 and 27x for 2025, leaving little room for expansion of valuation multiples.

According to Deutsche Bank, the company's earnings per share (EPS) growth should peak at 38% in 2024, before decelerating to +21% in 2025 and +16% in 2026.

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