Netflix: Credit Suisse raises target price
(CercleFinance.com) - On Monday Credit Suisse raised its target price for the Netflix stock from 643 dollars to 740 dollars, in particular taking into account the success of the South Korean hit "Squid Game".
According to the broker, which still has an "outperform" rating on the stock, this success has led investors to raise their forecasts for the number of new subscribers in the third and fourth quarters this year.
Following recent discussions with professionals, the market expects the Californian group to attract four million new subscribers in Q3, followed by eight million in Q4.
These estimates are close to its own, as it expects 3.5 million new subscribers in Q3 (or even four million), followed by 8.5 million in Q4.
The share is currently up over 0.5% in the first hour of trading on Wall Street.
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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.
According to the broker, which still has an "outperform" rating on the stock, this success has led investors to raise their forecasts for the number of new subscribers in the third and fourth quarters this year.
Following recent discussions with professionals, the market expects the Californian group to attract four million new subscribers in Q3, followed by eight million in Q4.
These estimates are close to its own, as it expects 3.5 million new subscribers in Q3 (or even four million), followed by 8.5 million in Q4.
The share is currently up over 0.5% in the first hour of trading on Wall Street.
Copyright (c) 2021 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.