Netflix (NFLX) Strong US Engagement Could Set up 2021 For a Price Increase - Bernstein

Bernstein analyst Todd Juenger reiterated an Outperform rating and $487.00 price target on Netflix (NASDAQ: NFLX) after updating his price tracker despite low expectations for an increase in the US. The company did, however, increase prices in several Latin American and Asian countries. Netflix raised the price in Colombia, which was skipped in 2019, and Argentina, which could be a reaction to inflation. In Asia, the price increases that were announced last quarter in Malaysia and Singapore went ahead.

The analyst believes that the lack of a price increase this year could set up 2021, assuming a robust macro recovery, stating "the increased engagement and appreciation for Netflix that a growing number of consumers will experience in 2020 could make it that much easier for Netflix to successfully pass through pricing increases in 2021".

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $373.00 yesterday.

You May Also Be Interested In

• Klarna (KLAR) PT Lowered to $16 at Bernstein SocGen Group
• BofA Securities Reinstates Zoom Video (ZM) at Buy
• Home Depot (HD) PT Raised to $390 at Mizuho