Is Netflix (NFLX) Stock Finally Turning Around? New Catalyst Says Maybe
TLDR
- Wolfe Research raised its Netflix price target to $95 from $84, keeping an Outperform rating
- Analyst Peter Supino says Q2 subscriber weakness was due to content timing, not weak demand
- Reports suggest Netflix is exploring letting users buy rival streaming subscriptions inside its app
- Netflix extended its NFL deal through the 2029-30 season, boosting its live sports and ad potential
- Wall Street has a Strong Buy consensus on NFLX with an average price target of $96.22
Netflix (NFLX) stock rose 2.1% in mid-day trading on Monday, hitting a session high of $81.74, after two catalysts gave investors fresh reasons to buy in.
The first was a price target hike from Wolfe Research. Analyst Peter Supino raised his target to $95 from $84 and kept an Outperform rating, saying the stock is “primed to move higher as viewer engagement improves.”
Supino pointed to content timing as the reason for Netflix’s soft Q2 numbers, not weak demand. New seasons launching in Q3 had prior seasons generate 1.3 billion hours of top-10 viewing, compared to 765 million hours for shows that launched in Q2.
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