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Netflix Gains After Analysts See Low Risk in Disney Results

  • ‘Disney+ is not a substitute’ for Netflix, BofA writes
  • Shares of Netflix have outperformed since Disney+ debuted
Netflix Inc. signage is displayed on an Apple Inc. iPhone

Netflix Inc. signage is displayed on an Apple Inc. iPhone

Photographer: Gabby Jones/Bloomberg
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Walt Disney Co. reported strong subscriber numbers for its Disney+ streaming service, but it’ not the competitive risk that it may appear for Netflix Inc., analysts said on Wednesday.

While there were both bullish and bearish takeaways for Netflix in Disney’s report, the “positive outweighs the negative,” wrote BofA analyst Nat Schindler, who reiterated his buy rating and $426 price target on the stock. Even with this high-profile competition, “Netflix remains the OTT staple,” the firm wrote, referring to over-the-top streaming services.