Citi keeps a Neutral rating on Netflix with a $660 price target after the company announced its advertising tier has reached 40M monthly active users, up from 23M in December 2023. This implies the company is adding 4.3M users per month, which is relatively in line with its pace back in December, the analyst tells investors in a research note. Citi estimates Netflix is pacing toward 17M ad tier subscribers per year.
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