UPDATE: Credit Suisse Upgrades Netflix (NFLX) to Outperform, 'Stills Wears The Crown'

(Updated - June 25, 2021 4:11 AM EDT)

Credit Suisse analyst Douglas Mitchelson upgraded Netflix (NASDAQ: NFLX) from Neutral to Outperform with a price target of $586.00.

The analyst comments "We are upgrading Netflix from Neutral to Outperform as we expect subscriber growth to normalize in 4Q21 and our U.S. consumer survey reinforced the strong competitive position and high user satisfaction for the global SVOD leader, paired with a favorable risk/reward entry point (HOLT® shows the stock actually discounting a material decline in CFROI®) and attractive absolute valuation (sub-20x 2025 P/E). Our estimates and $586 DCF-based target price remain unchanged."

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 $518.06 yesterday.

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