Is Netflix a $525 Stock?
Netflix (NASDAQ: NFLX) has been one of the undisputed beneficiaries of the widespread stay-at-home orders issued in response to the COVID-19 pandemic. Forced into government-imposed lockdowns, consumers caught up on their favorite shows, causing Netflix subscriptions to spike. While some investors worry that the easing of coronavirus-related restrictions could cause increased viewer defections, one analyst thinks there's more gains to come.
Bank of America Merrill Lynch analyst Nat Schindler reiterated his buy rating on the streaming leader with a price target of $525 -- more than 23% higher than Monday's closing price. With sporting events, movie premiers, concerts, and other big events largely in limbo, Schindler argues that Netflix's subscriber growth will remain strong in the coming months.
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Source Fool.com
