(News Bulletin 247) – Bank of America reiterated its buy recommendation on Netflix stock on Tuesday, with a price target raised from $410 to $490.
The analyst says he has raised his forecast for the video-on-demand giant due to the steps he has taken to end account sharing, a strategy he says improves the growth prospects of the company. band.
According to BofA, early indications collected by several data collection companies indeed suggest that the initiative will exceed expectations, which should lead to an upward revision of market estimates.
“With its world-class brand, unparalleled subscriber base, and positioning as an innovator, we believe Netflix is ​​poised to outperform,” the intermediary concludes.
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