Piper Sandler assumed coverage of Netflix (NFLX) with an Overweight rating and $1,100 price target Netflix may be the best positioned name in consumer internet as it has a “strong” entertainment value proposition and “defensible” subscription model, which is insulating in a recession, the analyst tells investors in a research note. The firm says the company “is also on offense” with streaming inflecting, a superior content slate, and burgeoning advertising business. Consensus expectations “don’t look terribly onerous,” adds Piper.
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