Netflix (NFLX) PT Raised to $450 at Canaccord Genuity; Raises Q1 Sub Estimates by ~21%

(Updated - April 13, 2020 10:55 AM EDT)

(updated to add analyst comments)

Canaccord Genuity analyst Michael Graham raised the price target on Netflix (NASDAQ: NFLX) to $450.00 (from $415.00) while maintaining a Buy rating.

• raising net subscriber addition estimates by ~21% for Q1 and by ~5% for FY20, due to an increase in demand for in-home entertainment options during the ongoing COVID-19 pandemic.
• As a result of the improved subscriber trends, the firm's Q1 total revenue and OI estimates both increase by ~0.5%, and FY20 estimates increase by ~1%.

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