Netflix rises as MoffettNathanson upgrades to 'buy'

Shares of streaming giant Netflix NFLX.O rise 3.6% to $950.85

MoffettNathanson upgrades to "buy" from "neutral", hikes price target by $250 to $1,100; new PT represents an upside of 19.8% as of last close

"Despite all of Netflix's recent success in reinvigorating growth, we believe its engagement will allow the company to better monetize and unlock greater profits in the years ahead," brokerage says

MoffettNathanson forecast NFLX will generate more than $6 bln in advertising revenue in 2027 and about $10 bln by 2030

Thirty-four of 47 brokerages rate the stock "buy" or higher, 13 "hold"; their median PT is $1,100 - LSEG data

Stock had risen 83% in 2024