Netflix: Canaccord expects 'strong' second-quarter results
(CercleFinance.com) - Canaccord Genuity maintains a "buy" rating on the Netflix share, with a target price of 550 dollars, expecting "strong" second-quarter results.
In a note to clients, the Canadian broker pointed out that video streaming has seen a surge over recent months as subscribers around the world spent more time at home during due to the pandemic.
Canaccord said it expects Netflix to report 7.9 million net additions for the second quarter, up from its previous estimate of 7.5 million net adds, slightly ahead of company guidance of 7.5 million net adds.
The broker thinks that the company's content leadership position is poised to persist.
Netflix will post its second-quarter results and business outlook on Thursday 16 July.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a note to clients, the Canadian broker pointed out that video streaming has seen a surge over recent months as subscribers around the world spent more time at home during due to the pandemic.
Canaccord said it expects Netflix to report 7.9 million net additions for the second quarter, up from its previous estimate of 7.5 million net adds, slightly ahead of company guidance of 7.5 million net adds.
The broker thinks that the company's content leadership position is poised to persist.
Netflix will post its second-quarter results and business outlook on Thursday 16 July.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.