Netflix shares have lost about half their value so far this year, and Pivotal Research Group analyst Jeff Wlodarczak increased his price target on $NFLX to $375 from $200.
He double upgraded Netflix’s stock NFLX, +2.61% to buy from sell Wednesday, writing that the company could see new monetization initiatives pay off, plus it might even become a takeout candidate.
Netflix has recently offered more information about its plans to cut down on password sharing, and Wlodarczak thinks the company will have “success at converting a material number of effective pirates into paying subscribers” or getting them to trade up to more expensive plans that support account sharing.
The specific opportunities ahead of Netflix could line it up well for the current climate, according to Wlodarczak, who sees the name as “a relatively attractive place for investors to be amidst major slowdowns in digital advertising.” That’s because Netflix “should be able to lever pirate conversion and ad supported to grow in virtually any environment.”
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