Netflix (NFLX) Reiterated at Market Perform by Citizens: 'Remains a Clear Leader'

Citizens analyst Matthew Condon reiterated a Market Perform rating on Netflix (NASDAQ: NFLX).

The analyst commented, "Netflix remains a clear leader in engagement and content, but competition is clearly intensifying. Early signals like the TF1 partnership suggest some willingness to experiment with always-on content in categories that don’t overlap with its core scripted slate, but we have yet to see additional deals in key markets such as the U.S. We have previously written, and it has been reported, that Netflix is open to bundles or channel partnerships with platforms such as Peacock—but it appears YouTube has beaten it to the punch. We have also thought Fox’s news and sports content would fit well within Netflix’s platform, in a similar vein to the TF1 partnership; while that could still happen, Fox’s acquisition of Roku appears to make it less of a priority for Fox. NBCU’s split from Comcast seems to make a Netflix acquisition of the business more plausible, as we believe it would bring leading IP and theme parks that could serve as important long-term strategic assets as Netflix looks to better develop its own IP and deepen consumer touchpoints. Regardless, we believe Netflix has to make a meaningful strategic move as it looks to hold and expand its leadership in streaming and firmly keep itself as a default location."

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 $78.16 yesterday.

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