As previously reported, Seaport Research upgraded Netflix (NFLX) to Buy from Neutral with a $955 price target ahead of its Q4 results. The firm is boosting its net member addition estimate to up 9.0M from up 5.7M while also citing the operational tailwinds that should support Netflix’s position with industry-leading original content accolades, including gross additions, attraction of more top content projects, advertising growth, and live sports rights wins that should come with that reputation, the analyst tells investors in a research note. Seaport believes that Netflix should be a “core holding” for investors given its revenue growth, operating margin expansion, and free cash flow conversion.
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