NFLX Stock: $645 Target From KeyBanc

By Amit Chowdhry ● July 21, 2021
  • The shares of Netflix Inc (NASDAQ: NFLX) have received a $645 price target from KeyBanc. These are the details.

The shares of Netflix Inc (NASDAQ: NFLX) have received a price target decrease from $650 to $645 by KeyBanc. And KeyBanc analyst Justin Patterson is maintaining an “Overweight” rating on the shares.

Patterson adjusted the rating and price target due to a slight reduction in the company’s 2022 revenue estimates. And Patterson feels incrementally better that relevant content has been resonating and 2022 will mark a return to more normal net add growth. 

As Netflix is getting back to a 27 million net add cadence, Patterson believes that investor concerns involving annual operating margin expansion is moderate as the focus shifts back to a 30% annual EPS growth.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.