Canaccord raised the firm’s price target on Netflix (NFLX) to $1,525 from $1,380 and keeps a Buy rating on the shares. The firm said while most of their covered subscription platforms command premium valuations, they believe they are warranted given the fundamentals while noting Netflix maintains a strong leadership position, pricing power, and developing ad tech capabilities.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NFLX:
- Netflix discusses with Spotify, pushes further into unscripted TV, WSJ says
- “…Any Disappointment Would be a Risk”: Netflix Stock (NASDAQ:NFLX) Plunges as Army Base Plan Proceeds
- Netflix says ‘Squid Game’ season 3 amassed 60.1M views in three days
- Amazon (AMZN) and Netflix Have Saturated the TV Ad Market, and It’s Hurting FAST Channels
- NASA Will Soon Stream Live Space Events on Netflix (NFLX)