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Benzinga
Benzinga
Business
Anusuya Lahiri

Truist Remains Bullish On Netflix; Sees Sharp Upside

Netflix Truist NFLX
  • Truist analyst Matthew Thornton reiterated the Buy rating and $690 price target ahead of Netflix Inc's (NASDAQ:NFLX) Q4 earnings announcement on January 20. The price target implies an upside of 34%.
  • Sentiment on the stock is "cautious," with buy-side investors anticipating net adds as low as 6.3 million, Thornton notes. 
  • Related Content: Read How Analysts View Netflix Ahead Of Quarterly Results
  • Thornton adds that he has fine-tuned his model calling for lower subscription members.
  • However, his annual revenue projections are slightly unchanged when offset by price increases.
  • Price Action: NFLX shares closed higher by 0.99% at $515.86 on Wednesday.
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