Netflix: Jefferies raises target price

(CercleFinance.com) - Jefferies maintains its buy rating on the Netflix stock, with a target price raised from $400 to $425.


The analyst says he conducted a survey of users of the streaming service who borrow passwords from other subscribers.

According to the results of the study, 38% of these "borrowers" would adopt one of three subscription solutions if Netflix's future password sharing solution applied.

For the 62% who would stop using Netflix, the reasons vary: 25% can't afford it, 31% don't like the content enough to pay, and 35% think they can replace Netflix with another service.

Jefferies estimates that 21% of these "borrowers" could join Netflix by 2023, a figure that could rise to 45% by the end of 2024.

Copyright (c) 2023 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.