Goldman Sachs Upgrades Netflix (NFLX) Stock to Buy from Neutral

Netflix, Inc. (NASDAQ:NFLX) is one of the Best Long Term Growth Stocks to Invest In According to Billionaires. On April 5, Goldman Sachs upgraded the company’s stock to “Buy” from “Neutral”, increasing the 12-month price objective to $120 from the previous target of $100. As per the firm, the company’s stock offers a more positive risk/reward in the current trading juncture.

Goldman Sachs Upgrades Netflix (NFLX) Stock to Buy from Neutral

This upgrade comes off the back of a recent fall in Netflix, Inc. (NASDAQ:NFLX)’s stock, which was mainly because of the now-abandoned bid for the acquisition of Warner Bros. Discovery’s streaming and studio assets. Notably, Netflix, Inc. (NASDAQ:NFLX)’s stock saw a decline of ~18% over the past 6 months. The analysts at the firm opine that, since the company decided to walk away, it is now returning to the standalone execution story, amidst chances for a positive revision in the estimates. The firm’s analysts noted potential for strong capital returns.

Netflix, Inc. (NASDAQ:NFLX) is a California-based entertainment service provider.

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