UK banking giant Barclays reckons Netflix Inc (NASDAQ:NFLX) could become one of the most successful media companies on the strength of its original content.
Initiating coverage of the media streaming pioneer, Barclays has attached an “overweight” rating to the stock, and has predicted strong growth in revenue and subscribers over the next few years.
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“If subscriber growth is faster than content cost growth over time, it could become one of the most successful media companies,” suggested analyst Kannan Venkateshwar.
The analyst has set a price target of US$245 for Netflix. In pre-market trading, the stock was up 1% at US$214.55.