Netflix 's new ad-supported subscriber can give the stock a much-needed boost, according to Oppenheimer.
"Ad-tier launch should accelerate subscriber growth, drive ARPU, and slow churn," Helfstein wrote in a Monday note.
Netflix shares tumbled this year after slowing subscriber numbers pointed to trouble ahead for the streaming company.
Still, the analyst said that Netflix has the "highest viewership in the industry," and that Wall Street is not properly accounting for the ad opportunity.
On top of that, about seven out of 10 current basic subscribers would downgrade to the ad tier, the analyst found.