Netflix: stock up on broker comments
(CercleFinance.com) - Netflix shares are going against the grain in New York on Friday, boosted by favourable comments from Bank of America analysts.
At 10:40 a.m. New York time, the video-on-demand giant's stock was up 2.5%,, the third-biggest gainer on the S&P 500 index, which was down 0.5% at the same time.
In their morning comments, BofA analysts noted that data from third-party companies suggests that new subscribers in the US and Canada may be higher than expected in Q1.
While the consensus only expects 100,000 subscribers in Q1, these sources suggest that the US group could attract over 500,000 new subscribers in the quarter, particularly as subscriptions in Canada accelerate, they say.
Bank of America has a buy rating on the Netflix stock, with a target price of $410.
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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.
At 10:40 a.m. New York time, the video-on-demand giant's stock was up 2.5%,, the third-biggest gainer on the S&P 500 index, which was down 0.5% at the same time.
In their morning comments, BofA analysts noted that data from third-party companies suggests that new subscribers in the US and Canada may be higher than expected in Q1.
While the consensus only expects 100,000 subscribers in Q1, these sources suggest that the US group could attract over 500,000 new subscribers in the quarter, particularly as subscriptions in Canada accelerate, they say.
Bank of America has a buy rating on the Netflix stock, with a target price of $410.
Copyright (c) 2023 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.