Price target on Netflix raised to $670 by Goldman Sachs
Analyst Heath Terry raised his price target on the stock from $540 to $670.
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Staff or Guest writer for The Dog of Wall Street.
2020-07-10 18:18

Goldman Sachs analyst Heath Terry said he expects the company's subscriber additions to be "well above guidance." He is forecasting an increase of at least 12.5 million net subscribers, compared to Wall Street's consensus estimate of about 8.1 million. In addition, Heath expects Netflix to outperform expectations in the second half of the year as well. Terry stated in the report:

"While the thesis 'if you haven't subscribed by now, you never will' is an easy rhetorical, it fails to capture the reality of ... a dramatically changing world that is pushing changes into every corner of consumer behavior." 

If Netflix keeps a sustained increase in user growth and engagement the $700 is certainly possible. With a market value of over $220 billion, Netflix is worth more than rivals Walt Disney, AT&T Inc. and Comcast Corp.


Disclaimer: I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article. All information should be independently verified and should not be relied upon for purposes of transacting securities or other investments. See terms for more info.

Published On
2020-07-10 18:18

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Staff or Guest writer for The Dog of Wall Street.

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