Netflix removed from Best Ideas List at Wedbush

Wedbush analyst Michael Pachter removed Netflix from the firm’s Best Ideas List but keeps an Outperform rating on the shares. The analyst continues to see drivers for the company to expand revenue, earnings, and free cash flow “at least to the high expectations out there right now.” However, it will be much harder for Netflix to impress investors in 2024 versus 2023, and some of its growth drivers have been fully priced in, such as the password-sharing crackdown, the analyst tells investors in a research note. Wedbush still sees Netflix’s advertising tier being a growth driver in 2025.