Netflix (NFLX) Mentioned Positively at JPMorgan: 'our NFLX bull thesis remains'

JPMorgan analyst Doug Anmuth reiterated an Overweight rating and $505.00 price target on Netflix (NASDAQ: NFLX).

The analyst comments "Overall, our NFLX bull thesis remains: 1) accelerating revenue growth driven by compelling content, Paid Sharing, & Advertising; 2) operating margin expansion led by faster revenue growth & tighter cost discipline; 3) FCF ramp on improving profit & N-T cash content spending controls; & 4) NFLX’s leadership position in an increasingly rational streaming industry. We believe this translates to 2024 & 2025 average growth in the teens for revenue and 20’s% for operating income, GAAP EPS, and FCF. We remain Overweight and our December 2024 PT of $505 is based on 25x our 2025E FCF of $8.6B, which translates to 27x our 2025E GAAP EPS of $18.75. "

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 $429.98 yesterday.

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