Netflix (NFLX): Sloppy Churn Quarter Ahead But 4 Year Return Could Be 3x - MKM
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MKM Partners analyst, Rob Sanderson, reiterated his Buy rating on shares of Netflix (NASDAQ: NFLX) ahead of Q3 earnings on Monday, October 17 after the market close.
The analyst expects a strong quarter for revenue growth as price increases drive ARPU acceleration and a sloppy quarter for net paid subscriber additions from churn.
The analyst stated "despite transitory subscriber growth headwinds, price increases are a clear positive for profit contribution and we believe the long-term bull thesis is intact". The analyst believes the NFLX shares can return 2x to 3x over the next four years.
No change to the price target of $130.
Shares of Netflix closed at $100.59 yesterday.
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