Netflix: Credit Suisse raises price target
(CercleFinance.com) - Netflix shares hit new all-time highs on Tuesday as Credit Suisse raised its target price for the streaming giant's share.
The broker, which has an "outperform" rating on the stock, raised this from 465 dollars to 550 dollars.
"We believe Netflix's increasing content advantage and the Asia flywheel fully spinning up will bolster confidence in sustainable growth", its analysts said in a note.
Netflix is scheduled to report its second-quarter earnings next week.
Credit Suisse expects the company to report that it added a net 10.55 million subscribers over the quarter, largely above what other analysts expect: the consensus currently forecasts 7.5 million adds.
Netflix shares rose to a new all-time high on Tuesday. They have jumped 54% so far this year.
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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.
The broker, which has an "outperform" rating on the stock, raised this from 465 dollars to 550 dollars.
"We believe Netflix's increasing content advantage and the Asia flywheel fully spinning up will bolster confidence in sustainable growth", its analysts said in a note.
Netflix is scheduled to report its second-quarter earnings next week.
Credit Suisse expects the company to report that it added a net 10.55 million subscribers over the quarter, largely above what other analysts expect: the consensus currently forecasts 7.5 million adds.
Netflix shares rose to a new all-time high on Tuesday. They have jumped 54% so far this year.
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.