This comes after Netflix said at its Upfront presentation last month that the company's ad-supported tier and password sharing crackdown are gaining traction.
The analyst forecasts total paid sharing revenue of $2.4 billion in 2024 and $3.5 billion in 2025.
We now model GAAP EPS of $15.40 in 2024 & $18.89 in 2025, along [with free cash flow] of $6.0B in 2024 & $8.6B in 2025," Anmuth wrote.
Netflix shares are trending higher this quarter, up more than 15%, while the S & P 500 climbed 4%.
JPMorgan was not the only Wall Street firm to hike its price target on Netflix.
Persons:
Doug Anmuth, Anmuth, Wells Fargo's Steven Cahall, — CNBC's Michael Bloom
Organizations:
Netflix, JPMorgan
Locations:
Tuesday's