Netflix's stock looks juicy ahead of earnings, says Citi — and not because of password sharing

Another analyst is feeling more upbeat about Netflix Inc.’s potential, but this time, the thesis isn’t about password sharing.

In fact, Citi Research analyst Jason Bazinet, who upped his price target on Netflix shares to $500 from $400 late Wednesday, had a “neutral” view of the streaming giant’s efforts to crack down on freeloaders who view content without paying for their own accounts. Bazinet instead was focused on the opportunity for Netflix’s NFLX advertising tier of service, which he said could manifest positively in the company’s upcoming earnings.

Bazinet rated Netflix shares at buy, and he opened a “positive catalyst watch” on the stock ahead of the company’s July 19 report.

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