Phillip Securities analyst Helena Wang upgraded Netflix (NASDAQ: NFLX) from Accumulate to Buy with a price target of $110.00.

The analyst comments: “We upgrade our recommendation from ACCUMULATE to BUY due to recent stock price movement, with an unchanged target price of US$110. Our estimates remain unchanged, with a WACC of 11.6% and a terminal growth rate of 3.5%. We still see a healthy membership trend, resilient pricing power, expanding advertising monetisation, and industry-leading profitability, with no signs of slowing engagement. As advertising monetisation continues to scale, we believe earnings growth will reaccelerate, creating an attractive entry point for long-term investors (Forward FY26 P/E ratio at 18.8x vs 5 year average of 36.25x).”

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Shares of Netflix closed at $68.95 yesterday.