Imperial Capital analyst David Miller has boosted his second-quarter subscriber growth estimates for Netflix, citing the “cocooning effect” of the novel coronavirus pandemic.
In a Thursday report, he maintained his "outperform" rating on Netflix shares and increased his price target for them by $4 to $489, meaning still “about 11 percent upside.” Miller wrote that he was raising his subscriber numbers for the latest quarter "primarily due to what we still believe is a 'cocooning effect' at hand due to fears surrounding the coronavirus." And he highlighted: "Not only is Netflix’s service impervious to the effects of the virus, but because the price is so low, it is impervious to any derivative recessionary effects that may arise as a.
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