BMO Capital analyst Brian Pitz raised the firm’s price target on Netflix to $713 from $638 and keeps an Outperform rating on the shares. The firm remains positive on the company given its rising potential for member growth in 2024 and beyond through ongoing paid sharing initiatives, T-Mobile ad tier-shift, and content innovation at scale, with the recent announcement of a live sports launch in Q3, the analyst tells investors in a research note. BMO adds that it sees $20B of the $150B in global linear TV dollars shifting to connected-TV / online globally over three years.
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