Netflix: Jefferies confirms Buy recommendation

(CercleFinance.com) - Jefferies confirms its Buy recommendation on the stock, with a target price of $780, after the group raised its 2024 targets.


We are increasingly optimistic after the share's recent double-digit decline, as we believe a fourth-quarter price hike in the US is possible thanks to an impressive content slate, analysts say.

We also believe that the combination of an impressive content slate and price increases could act as a catalyst, supporting our higher-than-market estimate for Q4 (Jefferies estimate of 7.45m vs. 7.2m for the market), Jefferies adds.

It should be noted that the video streaming platform has slightly raised its operating margin forecast for the full year 2024 to 26%, for a tightened revenue growth target range of between 14 and 15%.


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