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Wall Street analysts buy into Netflix optimism amid Disney threat – Source Reuters Tech News

(Reuters) – Netflix Inc acknowledged pressure from Disney+ after the company reported its quarterly results. But executives largely brushed off the long-term global impact of rivals that also include Apple, Comcast Corp’s NBCUniversal and AT&T Inc.

FILE PHOTO: The Netflix logo is seen on their office in Hollywood, Los Angeles, California, U.S. July 16, 2018. REUTERS/Lucy Nicholson/File Photo

So too did Wall Street analysts on Wednesday.

“Despite new services on the horizon from Disney and Apple (and probably others), we expect minimal long-term impact to Netflix subscriber addition and retention,” Piper Sandler analyst Michael Olson said.

At least four brokerages raised their price targets on the stock, with Monness Crespi Hardt being the most bullish, hiking it by $50 to $400, in-line with the median price target.

Netflix beat global paid subscriber estimates in the fourth-quarter, boosted by returning series “The Crown”, Oscar contender “The Irishman” as well as its…

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Source Reuters Tech News

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