In a report released today, Thomas Champion from Piper Sandler reiterated a Buy rating on Netflix, with a price target of $1,500.00.
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Thomas Champion has given his Buy rating due to a combination of factors that highlight Netflix’s potential for growth. The Nielsen Top 10 Viewership data indicates a notable increase in Netflix’s viewership in June, reversing a previous downward trend. This resurgence is attributed to the release of popular content like Ginny & Georgia Season 3, Blindspot, and Squid Game 3, which contributed significantly to the platform’s viewership numbers.
Furthermore, Champion points out the promising content lineup for the second half of the year, which includes highly anticipated titles such as Stranger Things and Bridgerton. This robust slate is expected to drive subscriber growth and enhance Netflix’s revenue, supported by an expanding ads business. The analyst believes that the projected subscriber and revenue growth targets are attainable, reinforcing the Buy rating for Netflix’s stock.
Champion covers the Communication Services sector, focusing on stocks such as Meta Platforms, Netflix, and Zillow Group Class A. According to TipRanks, Champion has an average return of 6.1% and a 53.39% success rate on recommended stocks.
In another report released on July 21, Robert W. Baird also maintained a Buy rating on the stock with a $1,500.00 price target.