Netflix (NFLX) PT Raised to $1,150 at TD Cowen

TD Cowen analyst John Blackledge raised the price target on Netflix (NASDAQ: NFLX) to $1,150.00 (from $1,000.00) while maintaining a Buy rating.

The analyst comments: "For 1Q25, we expect revenue of $10.5BN, up vs. $10.4BN prior, and reflecting our global paid net adds forecast of +5.9MM. For FY25, we now estimate revenue of $45.0BN, up vs. $43.4BN prior given mgmt's updated forecast, driven by global paid net member adds of 22.4MM, up vs. 22.2MM prior. Longer term, we raised our '26-'33E revenue forecast by an avg. 3.5% annually. We also raised our near- and long-term op. income estimates given the better revenue outlook and improving margins; see below for detailed changes to our model. Our DCF-based Price Target goes to $1,150 / share (vs $1,000 prior). The long-term opportunity remains significant, in our view, particularly given NFLX's multi-year lead in building out a truly global streaming platform supported by owned Originals and local language content at scale; maintain Buy."

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