This Analyst Sees 32% Upside In Netflix - Read Why? - Netflix (NASDAQ:NFLX)

Atlantic Equities analyst Hamilton Faber raised the price target on Netflix Inc NFLX to a "Street-high" $780 from $690, indicating a 32.1% upside, and reiterated an Overweight.
Faber increased his 2024 subscriber estimate to 292 million from 279 million and introduced a 2025 estimate of 311 million subscribers.
He forecasts Netflix to add 102 million incremental subs over the next four and a half years. While his estimates align with consensus, he believes improving sentiment and confidence in long-term growth will drive "multiple material expansion."
On September 2, Citi analyst Jason Bazinet raised the PT to $595 from $570, implying a 2.2% upside, and affirmed a Neutral.
Bazinet believes consensus estimates for Netflix's content spending will need to rise, or net addition forecasts will moderate. But, he continues to think that Netflix has pricing power.
KeyBanc analyst Justin Patterson maintained an Overweight rating and a price target of $645, signifying a 10.8% upside.
Shows like "Money Heist" resonate in select international markets, while "The Witcher" and "Stranger Things" have domestic and international audiences, Patterson adds.
Given content timing, his view is that international leads the net add recovery in Q3, followed by a broader recovery in Q4.
Price Action: NFLX shares traded higher by 2.95% at $607.94 on the last check Tuesday.

This Analyst Sees 32% Upside In Netflix - Read Why?