Netflix shares to surge on big international subscriber gains

Investing


Hargreaves raised his price target to $270 from $230 for Netflix shares, representing 23 percent upside to Thursday’s close.

The analyst noted a recent report from the International Telecommunication Union that revealed broadband internet access was rising worldwide faster than expected. That makes Netflix’s potential market bigger and “prompts a corresponding increase to our estimates for Netflix’s international subscribers in 2018 and beyond,” he wrote.

As a result, he increased his 2018 global net subscriber forecast for Netflix to 20.6 million from 19.3 million.

Hargreaves said Netflix’s large scale and content library will enable the company to beat its competition and produce subscriber growth and profitability “well ahead of current expectations.”

Netflix is one of the market’s best-performing stocks. Its shares have rallied 59 percent in the last 12 months versus the S&P 500’s 24 percent gain.



Source link

Articles You May Like

Cash is still the biggest threat for digital payments firms: PayPal CTO
New job? How to become a retirement plan rollover champ
Bitcoin rally fails to materialize after NYC conferences
SEC needs to set regulations for ICOs
Emerging markets are in a correction — some call the stocks a buy

Leave a Reply

Your email address will not be published. Required fields are marked *