JPMorgan bullish on Netflix shares heading into 2024

JPMorgan analyst Doug Anmuth is bullish on Netflix shares entering 2024 citing the company’s ability to accelerate revenue growth, expand margins, and drive multi-year free cash flow growth. Paid Sharing has helped drive two straight quarters of strong subscriber growth, an the benefits should continue for several quarters, the analyst tells investors in a research note. The firm believes Netflix’s 2024 growth should be more balanced between subscribers and pricing. It looks for the company to expand price increases to other markets following targeted raises in the U.S., U.K. and France Q4. JPMorgan keeps an Overweight rating on the shares with a $510 price target.