Netflix named 2024 Top Pick at Argus

Argus keeps a Buy rating and $575 price target on Netflix while naming the stock as one of the firm’s 2024 Top Picks. Past price increases may have slowed subscriber additions, but the combination of the lower priced ad-plan and more-rigorous password-sharing policies has been positive for both subscriber and revenue growth, the analyst tells investors in a research note, adding that Netflix remains the “anchor tenant” for consumers in video streaming even though the competition from legacy studio streaming services has greatly intensified.