Loop Capital analysts increased their price target for Netflix (NASDAQ:NFLX) to $750 from $700, maintaining their Buy rating on the stock.
The analysts noted that the ongoing decline of traditional TV companies is benefiting Netflix. Viewership trends for Netflix remain positive, and the analysts anticipate a price increase this year, especially for the Standard Tier, ahead of Netflix streaming the Christmas NFL games.
Market sentiment has improved, and Netflix’s stock has recovered its losses following the announcement that it will stop providing quarterly subscriber data after this year. The stock is nearing its all-time highs from late 2021.
The analysts slightly raised their earnings estimates for Netflix, believing the earnings trend will continue to be positive.