A bullish analyst on Wednesday reaffirmed his positive stance on Netflix, Inc. (NASDAQ:NFLX) ahead of its fourth-quarter results due Tuesday.
The Netflix Analyst: KeyBanc Capital Markets analyst Justin Patterson maintained an Overweight rating on the stock and upped the price target from $525 to $545, suggesting roughly 13% upside potential.
The Netflix Thesis: For the fourth quarter, Patterson models revenue of $8.74 billion, an 11% year-over-year growth, and earnings per share of $2.22, a cent ahead of the consensus estimate. The analyst also called for a net paid subscriber addition of 9.6 million compared to the 8.7 million consensus estimate.
Looking ahead, Netflix will likely guide to at least $9.1 billion in first-quarter revenue and net adds above the year-ago level, ...