In a report released today, John Blackledge from TD Cowen maintained a Buy rating on Netflix, with a price target of $142.00.
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John Blackledge has given his Buy rating due to a combination of factors surrounding Netflix’s strategic acquisition of Warner Bros. This move is set to significantly enhance Netflix’s content library by adding a vast array of iconic intellectual properties such as Harry Potter, Matrix, and Game of Thrones, along with access to HBO Max and other Warner Bros. assets.
The acquisition positions Netflix to strengthen its competitive edge in the streaming industry, allowing it to better defend its leading position against other major players like Amazon Prime Video and Apple TV+. Additionally, the integration of Warner Bros.’s game studio and extensive catalog titles offers Netflix an unprecedented opportunity to expand its offerings and appeal to a broader audience. Despite some uncertainties regarding the integration process, the potential benefits of this acquisition are substantial, justifying the Buy rating.
In another report released yesterday, TR | OpenAI – 4o also upgraded the stock to a Buy with a $111.00 price target.
Based on the recent corporate insider activity of 172 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NFLX in relation to earlier this year.