Loop Capital Bullish On Netflix, Inc. (NFLX) Amid Success for Hit Show “The Crown”
Loop Capital analyst David Miller has maintained his bullish position on Netflix, Inc. (NASDAQ: NFLX) following the success of the company’s hit show “The Crown.”
“With the quarter winding down, we are modestly improving our subscriber outlook for both the domestic and international platforms due primarily to the universally positive response seen this far for The Crown,” Miller said.
The series, which Miller praises for its “true global appeal” is reported to have cost Netflix $110 million for 10 episodes.
Miller, who has a five-star rating on TipRanks, reiterated his Buy rating on the entertainment company with a price target of $151. This represents an upside of 19% from the current share price.
An investor following Miller’s buy and sell ratings since the beginning of 2009 would have made an average return of 12.6%, according to TipRanks’ financial accountability engine. Additionally, when recommending NFLX, the analyst yields 39.6% in average profits on the stock.