Evercore ISI notes that the annual Upfront presentation from Netflix (NFLX) featured new data points on ad viewership, including the company having announced 94M global monthly ad viewers, up from 70M in November and 40M in May of 2024, as well as updates and timing on the ad tech stack rollout. The firm, which came away “incrementally positive” into the company’s investor event given the continued growth of ad viewers and the acceleration of Netflix’s ad tech platform rollout, maintains an Outperform rating and $1,150 price target on Netflix shares.
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