Expectations are rising for Netflix, Inc. (NASDAQ:NFLX) to deliver a strong third quarter earnings report next week.
IBD notes that a major Wall Street firm just boosted their outlook for NFLX yesterday:
Investment bank Morgan Stanley increased its price target on Netflix stock to 225 from 210 and maintained its overweight rating. Meanwhile, brokerage firm Cowen reiterated its outperform rating on Netflix and upped its price target to 215 from 197.
Not to be outdone, another analyst chimed in with a bullish note as well:
Cowen analyst John Blackledge sees a rosy outlook for Netflix subscriber additions worldwide over the next 10 years.
Blackledge extended his forecast period for Netflix by five years until 2028. He now predicts that total Netflix subscribers will rise to 302 million worldwide by 2028, up from 116 million this year.
Long term, Blackledge is even more bullish. He expects Netflix’s EPS to surge from $1.33 in 2017 to $3.11 in 2018. Looking way out, the analyst projects almost inconceivably high EPS of $29 by 2028.
Already immutably bullish on Netflix, Wall Street is clearly upping the ante here. The pressure is officially on for the streaming media giant to deliver a blockbuster report on Oct 16, 2017 after the market close.
Netflix, Inc. shares were unchanged in premarket trading Thursday. Year-to-date, NFLX has gained 57.47%, versus a 15.71% rise in the benchmark S&P 500 index during the same period.