Piper Sandler analyst Matt Farrell reiterated a Neutral rating on Netflix, Inc (NASDAQ:NFLX), raising the price target to $475 from $400.
The streaming giant said it would post its fourth-quarter results on Tuesday, January 23, 2024.
Farrell writes that expectations heading into the fourth quarter print “couldn’t feel more different” than set-up into the third quarter print in mid-October. However, the stock has rallied nearly 40% over the last few months.
The analyst adds that the stock rally indicated that investors are expecting a solid print across the board.
According to Farrell, global paid ...