Netflix Stock Should Move Higher On Phase-Out Of Basic Plan, Bull Analyst Says
Portfolio Pulse from Priya Nigam
Netflix Inc (NASDAQ:NFLX) plans to phase out the “Basic” option from its price plans for Canada, which is expected to increase revenue per subscriber. Analyst Jason Helfstein from Oppenheimer maintains an Outperform rating for Netflix and raises the price target from $450 to $500. The shift from the lowest-priced ad-free tier could generate an incremental $4.4B for NFLX over a 12-month period.
June 28, 2023 | 3:33 pm
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Netflix's decision to phase out the Basic plan is expected to increase revenue per subscriber and could generate an additional $4.4B over a year. Oppenheimer analyst maintains an Outperform rating and raises the price target to $500.
The news directly pertains to Netflix and is expected to have a positive impact on its revenue and stock price. The analyst's raised price target also indicates a positive outlook for the stock.
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