On Wednesday, Bank of America reiterated its Buy recommendation on Netflix, with its price target revised upwards from $525 to $585.

From the analyst's point of view, it has become clear - over the past 18 months - that Netflix has now won the "streaming war", and that the crown of king of the sector belongs to it.

According to BofA, the downward revision of production budgets, as well as the multiplication of licensing agreements, show that many media groups have given up on reaching the same dimension as Netflix.

However, the intermediary believes that this is not bad news for the industry, and even less so for Netflix, which will now be able to license series without the risk of securing the heavy financing needed to launch new productions.

With its world-class brand, large subscriber base and status as an innovator, Netflix holds all the cards to outperform the market, concludes BofA.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.