The successful execution of Netflix 's advertising-enabled subscription tier and paid sharing crackdown is among the major reasons Baird believes shares could trade at a price not reached in more than a year.
Senior analyst Vikram Kesavabhotla upgraded the streaming stock to outperform and raised his price target by $160 per share to $500.
Kesavabhotla's new target implies the stock could rally 17% from Friday's close to trade at a price not seen since early 2022.
A firm survey shows Netflix is maintaining popularity among customers despite the changes.
Following its second-quarter earnings report , Kesavabhotla said Netflix is entering a "period of particular strength."
Persons:
Baird, Vikram Kesavabhotla, Kesavabhotla, he's, Michael Bloom
Organizations:
Netflix, CNBC
Locations:
U.S