- The shares of Netflix Inc (NASDAQ: NFLX) have received a price target of $665. These are the details.
The shares of Netflix Inc (NASDAQ: NFLX) have received a price target of $665. And Evercore analyst Mark Mahaney assumed coverage of Netflix with an “Outperform” rating. Mahaney views Netflix as the leading global player in the long-term secular shift in video streaming.
Earlier this week, Netflix signed a multi-year deal with Sony Pictures Entertainment to stream movies. The terms of the deal were undisclosed, but Bloomberg reported that Sony was looking for as much as $250 million per year.
Evercore is not the only brokerage to assign a price target on Netflix this month. Stifel analyst Scott Devitt assigned Netflix a $550 target and a “Hold” rating, citing risks to Q1 results such as price increase frictions and the pulled forward demand due to the pandemic. Benchmark analyst Matthew Harrigan assigned a more bearish take with a “Sell” rating and a $472 target due to speculation that Netflix paid a record price and significant premium to stream movies from Sony Pictures Entertainment starting in 2022.
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