Netflix: The title stands out thanks to an analyst note
(CercleFinance.com) – Netflix action bucked the trend on Friday on the New York Stock Exchange, boosted by favorable comments from analysts at Bank of America.
At 10:40 a.m. (New York time), the action of the video on demand giant gained 2.5%, signing the third largest increase in the S&P 500 index, which lost 0.5% at the same time.
In a note released in the morning, BofA analysts point out that data from third-party companies suggests that the number of new subscribers in the United States and Canada could be higher than expected in the first quarter.
While the consensus only targets the arrival of 100,000 subscribers over the first three months of the year, these sources suggest that the American group could attract more than 500,000 new subscribers over the quarter, in particular thanks to an acceleration subscriptions in Canada, they continue.
With Netflix recently announcing plans to end codesharing in the country, these numbers are likely to allay investor fears about the fallout from measures to crack down on codesharing, the office adds. of studies.
For BofA, this information is good news as Netflix prepares to make password sharing payable in Spain, Portugal and New Zealand.
Bank of America displays a buy recommendation on the title Netflix, with a target price of 410 dollars.
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