Is Netflix A Rare Recession-Proof Stock? Analyst Says Steaming Giant Entering 2024 As 'A Cleaner Story' After Q3 Results
Portfolio Pulse from Shanthi Rexaline
Netflix, Inc. (NASDAQ:NFLX) shares surged following robust Q3 results. Analyst Justin Patterson at KeyBanc Capital Markets upgraded Netflix shares from “Sector Weight” and set a $510 price target, implying a 47% upside potential. Patterson anticipates 13 million net additions in both 2024 and 2025, leading to outsized earnings per share growth. He raised his earnings per share estimates for 2023, 2024, and 2025 by 6%, 8%, and 12%, respectively.
October 19, 2023 | 8:45 am
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Netflix shares surged following robust Q3 results and an upgrade from KeyBanc analyst. The new price target implies a 47% upside potential.
The positive Q3 results, the upgrade from the analyst, and the new price target all contribute to a positive outlook for Netflix shares in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100