- Netflix received a Street-high price target of $650 on Wednesday from Pivotal Research Group, representing potential upside of 28% from Tuesday’s close.
- Pivotal said Netflix is set to continue benefiting from a “virtuous cycle” of growing its subscriber base, increasing its spend on original content, and raising the price of its monthly subscription.
- Netflix is “due for an increase” in price as early as January 2021, according to Pivotal.
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Netflix is engaged in a “virtuous cycle” of growing its business and extending its lead against other video streaming services, Pivotal Research Group said in a note on Wednesday.
This cycle is just one reason Pivotal increased its Netflix price target to