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News: General

Analyst Forecasts Increased Streaming/Netflix Subscribers Due To Pandemic

Wednesday, April 15, 2020   (0 Comments)
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from The Hollywood Reporter:

[Jeff] Wlodarczak raised his forecast for Netflix's subscriber additions for the just-ended first quarter from 7.90 million to 8.45 million and for the second quarter from nearly 4.88 million to 5.70 million.

Combined with other updates, the analyst boosted his stock price target for Netflix, led by CEO Reed Hastings, by $65, to $490, which he said marks a Wall Street high.

"We remain bulls on the Netflix story as Netflix offers consumers an increasingly compelling unique entertainment experience on virtually any device without commercials at a relatively low cost," wrote Wlodarczak...

He also addressed the early growth of Disney+, saying: "We view Disney+ as complementary to Netflix product as it appears focused mainly on children under 13 and is likely to exacerbate the swap from an increasingly disappointing traditional pay TV service (ever increasing price and commercials loads and as of late a lack of sports programming)."

- Read the full story at THR.com