Netflix (NFLX) PT Lowered to $1,040 at Oppenheimer

Oppenheimer analyst Jason Helfstein lowered the price target on Netflix (NASDAQ: NFLX) to $1,040.00 (from $1,065.00) while maintaining an Outperform rating.

The analyst commented, "While we are lowering our target to $1,040 from $1,065 on FX, we are highlighting our Dec report and believe setup is favorable into 4Q earnings with shares -10% from Dec. high vs. NASDAQ -5%. We expect upside to subscribers, driven by Paul/Tyson, NFL Christmas games, and Squid Games season 2, with full 2025 content slate and advertising ramp as catalyst for 1Q. Valuation the main risk in our view at 29x '26 PE, exacerbated by F/X headwinds. Lowering 2025 revenue/EPS 4%/6% on 4Q dollar strength. Longer term, we continue to see NFLX benefiting from less competition, driving better churn and content leverage; with upside to monetization and subscribers from live events and advertising. Target assumes 20x 2030E EPS discounted 7%."

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
• UBS Reiterates Buy Rating on NVIDIA (NVDA), Expects Q2 Revenue Beat