BofA raised the firm’s price target on Netflix (NFLX) to $800 from $740 and keeps a Buy rating on the shares. The company reported “solid” Q3 results, as in addition to strong topline performance, Netflix also reported better than projected operating income, EPS and free cash flow, the analyst tells investors. Netflix “remains one of the best positioned companies within media” and has several growth drivers, including the accelerating ramp of its ad business, which is expected to double in 2025 off “a small base” and become a multi-year growth driver in 2026 and beyond, the analyst added.
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