Netflix: Goldman Sachs raises target price
(CercleFinance.com) - Goldman Sachs reiterates its "buy" rating on Netflix and raises its 12-month target price from 540 dollars to 670 dollars, expecting the US streaming giant to report second-quarter results "well above guidance"
"We continue to believe the Covid-19 crisis is accelerating the shift from traditional content consumption (linear TV, theaters, live events, etc.
) to streaming services," the investment bank wrote in a research note.
Goldman believes Netflix could add at least 12.5 million total net paid subscribers in the second quarter, primarily driven by accelerating Europe, the Middle East and Africa (EMEA) and Asia Pacific (APAC).
Netflix shares are currently up 1.7% on the Nasdaq.
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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.
"We continue to believe the Covid-19 crisis is accelerating the shift from traditional content consumption (linear TV, theaters, live events, etc.
) to streaming services," the investment bank wrote in a research note.
Goldman believes Netflix could add at least 12.5 million total net paid subscribers in the second quarter, primarily driven by accelerating Europe, the Middle East and Africa (EMEA) and Asia Pacific (APAC).
Netflix shares are currently up 1.7% on the Nasdaq.
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.