Netflix (NFLX) Gains as Analyst Sees Widespread Price Increases This Year
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Netflix (NASDAQ: NFLX) higher off the open (+1.9%) in part on positive comments at Bernstein. Analyst Todd Juenger said evidence is growing that we will see widespread pricing increases in 2021.
The analyst commented, "After very little pricing activity in 2020, evidence is growing that we will see widespread pricing increases in 2021. In the quarter, we witnessed implementation of four significant price hikes: 1) the previously announced increases in United Kingdom, 2) an increase in Germany, bringing its pricing in line with Austria and Ireland, 3) price hikes in Japan's Basic and Standard plans, and 4) large increases across the board in Argentina. To us, Austria, Ireland and now, Germany, seem to be serving as leading indicators of future broader increases across Europe, in perhaps a more gradual roll-out across the Continent rather than one uniform, lockstep pricing change."
In addition to the Bernstein call, Evercore ISI assumed coverage at Outperform.
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