Bernstein analyst Laurent Yoon upgraded Netflix (NFLX) to Outperform from Market Perform with a price target of $1,200, up from $975. The firm believes another year of double-digit subscriber growth is achievable in 2025, driven by international markets. There are numerous markets with healthy average revenue per membership that are still underpenetrated by Netflix, and recent penetration trends in these markets – fueled by the ad-tier and the company’s deliberate growth initiatives – “indicate there are plenty of eyeballs left to entertain,” the analyst tells investors in a research note. In addition, Bernstein says Netflix “has recently proven to be a credible destination” for live events.
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