Citi upgraded Netflix, Inc. NFLX from Neutral to Buy and slapped a $525 price target on shares, 19.5 percent above Thursday's closing price. Citi analysts framed their bullish argument in three factors:
Netflix is scheduled to report earnings next Wednesday. Citi said it expects the report to be in-line with Street forecasts on both earnings and management guidance and subscriber growth of 1.8 million in Q1. Citi warned, however, that management has a history of guiding lower for Q2 subscriptions, which could create a risk to the immediate price action.
Netflix recently traded at $451.50, up 2.7 percent in Friday's premarket.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.