Netflix: BofA resumes purchase tracking

( – BofA resumed monitoring of the Netflix stock on Tuesday with a buy recommendation and a price target of 370 dollars corresponding to an upside potential of 24%.

In a research note, the financial intermediary believes that the group’s plans for free video streaming with advertising (AVOD) and code sharing could well boost its operational performance, as well as its results.

BofA thus says it forecasts an average annual growth in turnover of 9% over the period 2021-2024, for an increase in its current operating profit (EBITDA) of 10%.

The analyst thus expects 257 million subscribers by 2024, compared with 223 million members at the end of September.

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