Netflix Shares Recoup Bulk Of 2022 Losses As Wall Street Analysts Cheer Password Sharing Data And Advertising Potential
deadline.comNetflix’s resurgent stock rose another 3% through mid-day Tuesday, continuing to recoup losses from a major 2022 correction as several Wall Street analysts upgraded their outlook on the company.
Positive early signs from a new password sharing plan, along with the potential for advertising, have been cited by a number of bulls.
Several analysts have increased their 12-month price targets in recent days, including two sizable upticks Tuesday from Guggenheim (from $375 to $500) and Bank of America (from $410 to $490).
Last Friday, Pivotal Research increased its target to $535, highest on the Street. “Supported by its world-class brand, leading global subscriber base and position as an innovator,” BofA media vet Jessica Reif Ehrlich wrote in a note to clients, “Netflix is poised to outperform.” Shares in Netflix entered the home stretch of Tuesday’s trading day at around $432, the highest they have been since January 2022.
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