B of A Securities analyst Jessica Reif Ehrlich maintained Netflix Inc (NASDAQ:NFLX) with a Buy and raised the price target from $525 to $585.
The analyst noted that substantial free cash flow generation should help drive shareholder returns (NFLX increased its buyback authorization for an additional $10 billion in October).
Supported by its world-class brand, leading global subscriber base, and innovative position, Ehrlich noted that Netflix is poised to outperform.
It is becoming increasingly clear that Netflix has won the “streaming wars.”
Over the last 18 months, changing market dynamics, investor focus on profitability, and various talent strikes have made several media companies re-evaluate their streaming aspirations.
These changes have acknowledged that not all media companies can achieve Netflix’s global reach and scale in streaming. Overall, this is a win-win for the industry and Netflix.
Also Read: Netflix Games Download Surge by 180%, Signaling Success in Gaming Expansion
For Netflix, the availability to ...