Piper Sandler analyst Thomas Champion reiterated an Overweight rating on Netflix Inc. with a $705 price target, implying an upside of 34.1 percent.
Champion’s rating comes ahead of the company’s Q4 results on Thursday.
The analyst remains constructive on the shares long-term, citing the structural opportunity in streaming video.
The stock is down 10 percent in the last month on Q4 subscriber net additions concerns despite a robust Q4 content slate and survey data “pointing to robust consumption,” Champion adds.
By Anusuya Lahiri
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