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PhillipCapital initiates 'accumulate' on Netflix with TP of US$742

Felicia Tan
Felicia Tan10/19/2021 01:12 PM GMT+08  • 2 min read
PhillipCapital initiates 'accumulate' on Netflix with TP of US$742
PhillipCapital is bullish on Netflix’s ability to continue its growth trajectory on its healthy underlying business metrics.
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PhillipCapital has initiated coverage on Netflix with an “accumulate” recommendation and a target price of US$742 ($1,001.42).

In its report dated Oct 15, analyst Jonathan Woo highlighted that Netflix is seeing a continuing trend of positive net paid additions.

In the FY2020 ended December, Netflix ended the year with 204 million paid memberships, 22% higher y-o-y from that of the FY2019.

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