UPDATE: KeyBanc Starts Netflix (NFLX) at Overweight

(updating comment)

KeyBanc analyst Justin Patterson initiates coverage on Netflix (NASDAQ: NFLX) with a Overweight rating and a price target of $590.00.

The analyst comments "Netflix is a winner in over-the-top video and positioned for LT FCF growth. Cord-cutting has accelerated and consumer adoption has increased amid COVID-19, which makes us more confident on Netflix’s pricing power and the size of international TAM."

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 $482.03 yesterday.

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