- Netflix (NASDAQ:NFLX) is an early mover after Macquarie Research upgrades the streamer to Outperform from Neutral for being "miles ahead of peers" in subscription over-the-top services. Disney is seen as being two years away from offering a competing product.
- "We believe Netflix is taking several steps to improve this beyond the market's obsession with sub numbers to date," writes analyst Tim Nollen in today's note.
- "A second round of price increases is now coming through, Netflix is expanding its distribution relationships with cable operators and telcos globally, international growth is taking off on a concerted strategy to develop local content offerings, and Netflix is beginning to work on ways to reduce password sharing, which could drive even more subscribers," he adds.
- Macquarie lifts its price target on NFLX to $220.
- Shares of Netflix are up 1.74% premarket to $195.30.
- Now read: What Investors Can Learn From Netflix's 'Bright'
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