Netflix: share price rises, BofA raises guidance
(CercleFinance.com) - Netflix shares closed up nearly 1.
5% on the Wall Street Stock Exchange yesterday, with Bank of America raising its target price for them on from $700 to $740 on Monday, a few days before the US video-on-demand giant's Q2 results.
The broker, which reiterates its buy recommendation on the stock, believes that the video streaming platform is well positioned to generate "solid" growth in subscriptions.
Regarding Q2 results, scheduled for Thursday evening, BofA says it is already anticipating some pleasant surprises, with 4.6 million net new subscribers expected for the April-June period and sales of $9.49bn.
The analyst also expects the California-based group's advertising revenues to take off "significantly" from fiscal years 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.
5% on the Wall Street Stock Exchange yesterday, with Bank of America raising its target price for them on from $700 to $740 on Monday, a few days before the US video-on-demand giant's Q2 results.
The broker, which reiterates its buy recommendation on the stock, believes that the video streaming platform is well positioned to generate "solid" growth in subscriptions.
Regarding Q2 results, scheduled for Thursday evening, BofA says it is already anticipating some pleasant surprises, with 4.6 million net new subscribers expected for the April-June period and sales of $9.49bn.
The analyst also expects the California-based group's advertising revenues to take off "significantly" from fiscal years 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.