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Why Netflix Shares Are Trading Higher Today

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Netflix Inc (NASDAQ: NFLX) is trading higher Tuesday after Atlantic Equities raised its price target to a "Street-high" $780.

Atlantic Equities analyst Hamilton Faber maintained Netflix with an Overweight rating and raised the price target from $690 to $780.

Faber increased his 2024 subscriber estimate to 292 million from 279 million and introduced a 2025 estimate of 311 million subscribers, which would represent a 102 million increase over the next four and a half years.

The Atlantic Equities analyst expects "material multiple expansion" driven by improving sentiment and confidence in long-term growth.

Netflix delivers original and third-party digital video content through its streaming video on demand service.

NFLX Price Action: Netflix has traded as low as $458.60 over a 52-week period. It's making a new 52-week high in trading today.

The stock was up 3.84% at $613.16 at time of publication.

Photo: Mohamed Hassan from Pixabay.

Latest Ratings for NFLX

Sep 2021

Atlantic Equities

Maintains

Overweight

Jul 2021

Deutsche Bank

Maintains

Buy

Jul 2021

Credit Suisse

Maintains

Outperform

View More Analyst Ratings for NFLX
View the Latest Analyst Ratings

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