Phillip Securities upgraded Netflix (NFLX) to Neutral from Reduce with a price target of $950, up from $870, post the Q1 report. A “strong” content pipeline and the expansion of its advertising supported tier position will enable Netflix to navigate potential economic slowdowns, the analyst tells investors in a research note. The firm believes the stock’s current valuation suggests limited near-term upside, but cites Netflix’s ability to withstand a recession for the upgrade.
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