Netflix: BofA raises its price target
(CercleFinance.com) - Bank of America on Monday raised its price target for Netflix from $700 to $740, a few days ahead of the release of the American video-on-demand giant's second-quarter results.
The financial intermediary, which is reiterating its buy recommendation on the stock, believes that the video streaming platform is well positioned to generate "solid" growth in subscriptions.
As for second-quarter results, scheduled for Thursday evening, BofA is already anticipating pleasant surprises, with 4.6 million net new subscribers expected over the April-June period and sales of $9.49 billion.
The analyst also expects a "significant" take-off in advertising revenues for the Californian group from fiscal 2025 and 2026.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid 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.
The financial intermediary, which is reiterating its buy recommendation on the stock, believes that the video streaming platform is well positioned to generate "solid" growth in subscriptions.
As for second-quarter results, scheduled for Thursday evening, BofA is already anticipating pleasant surprises, with 4.6 million net new subscribers expected over the April-June period and sales of $9.49 billion.
The analyst also expects a "significant" take-off in advertising revenues for the Californian group from fiscal 2025 and 2026.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid 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.