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Netflix stock rises as JP Morgan analysts characterize investors as ‘too pessimistic’

Shares of Netflix are moving to the upside after JP Morgan analysts shared their bullish views on the stock.

Video Transcript

DAVE BRIGGS: My play is Netflix. The stock jumping on an upbeat note from JPMorgan analyst Doug Anmuth. He says investors have been too pessimistic on the company in recent weeks, as it launched its ad tier this month, highlighting that Netflix has given back a lot of its post earnings pop. The analyst noting Netflix is attracting a wide advertiser base, including retailers, leisure, and luxury brands. And there are hundreds of companies on board.

And one of the concerns we've talked a lot about is whether Netflix users will downgrade the accounts they have, which could be a headwind. But the analyst brushing that off, saying the ad tier would be net neutral with the basic membership across all markets. The stock popping about 5% today, but still been a rough go. As you know, down 50% year to date, Rachelle.

RACHELLE AKUFFO: I mean, obviously, still a lot of room for Netflix to grow. And a lot of analysts that we speak to say the next phase of the growth story could actually come from their international push. They've been growing in Latin America, in Asian markets as well. You have a number of developing countries who don't have a large streaming service dominating the space. So that could be the next growth story for Netflix, Dave.

DAVE BRIGGS: I'll tell you what better be a growth story, the SBF documentary. They have to be on that, right? I mean, if they're not already in production, they are sleeping at the wheel, Jared.

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