Netflix price target lowered to $1,000 from $1,010 at JPMorgan

JPMorgan lowered the firm’s price target on Netflix (NFLX) to $1,000 from $1,010 and keeps an Overweight rating on the shares. The firm remains positive on Netflix fundamentals ahead of the Q4 earnings on January 21, but lowered 2025 estimates primarily due to currency. Netflix shares are up 27% since Q3 earnings, but have traded off 7% from the December highs, in part due to increased concerns around currency headwinds and 2025 revenue growth, the analyst tells investors in a research note. JPMorgan believes the currency “noise should be understood.”