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‘New Version’ of Netflix Lures Wall Street Bulls Back to Stock
- JPM and Deutsche Bank upgrade to buy-equivalent ratings
- Analysts largely say Netflix has managed to turn it around
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A slew of bullish calls on Netflix Inc. from “back on track” to “rise of a new version” by Wall Street brokers confirm that a change in tack and rebound in user growth are likely to set the stock off to a sustainable recovery.
Shares in the video streaming giant surged 14% Wednesday, set for its biggest jump since January 2021. JPMorgan Chase & Co., Deutsche Bank AG and KGI Securities Co Ltd upgraded their recommendations on the stock, while at least a dozen other analysts boosted their target price. Netflix shares have lost over 60% this year.