Two Banks Are Bullish on NFLX

Two banks recently issued bullish notes on Netflix (NFLX), Schwab Network reported.

Meanwhile, the company is seeking to raise its market capitalization to $1 trillion by 2030, according to The Wall Street Journal.

Bank of America and Evercore ISI Are Upbeat on NFLX

Netflix has “a strong subscription model with critical entertainment,” Bank of America asserted. Moreover,  the company has traditionally “performed well in recessions,” making its shares “a defensive choice for investors,” the bank reported.

These dynamics have helped the shares outperform versus other tech names and the Mag 7, Bank of America believes.

Investment bank Evcercore ISI, which added NFLX to its Tactical Outperform List, contended that Netflix’s ad-supported tier, which costs just $7.99 per month, provides “arguably the best entertainment value for your money.”

And importantly, a recent survey suggests that the risk of Netflix losing customers has dropped.

Evercore recommends that investors buy NFLX stock.

Netflix’s Long-Term Goals

In addition to reaching a $1 trillion market capitalization by 2030, Netflix hopes to double its revenue between 2024 and 2030 while tripling its operating income over the same period.

In 2024, its revenue came in at $39 billion, and it generated $10 billion of operating income.

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This article is originally published at Insider Monkey