Netflix Inc. shares were enjoying a bump ahead of their Tuesday afternoon earnings report after an analyst at Deutsche Bank joined the bull camp.
Deutsche Bank’s Bryan Kraft upgraded the stock to buy from hold on Tuesday, writing of several long-term trends that could lead to further dominance for the streaming giant. The stock is up 2.6% in morning trading.Netflix NFLX, +2.66% continues to be a “magnet” for artist talent, according to Kraft, and the company has an opportunity to be more efficient about the projects it pursues.
He’s not sweating the fall launch of Walt Disney Co.’s DIS, -1.26% new streaming service. “Disney+ and Netflix do have some limited overlap, but Netflix is a much broader service with a content catalog that caters to a much greater diversity of tastes and genres, and with a much larger programming budget,” Kraft wrote. He doubts that many people will switch to Disney+ from Netflix “unless a given consumer’s use case for having Netflix has been limited to watching Disney films.
Netflix original content is near unwatchable except for Narcos and the occasional movie. Change in leadership skill set is needed. Hulu content is much more in line with what Netflix was 5 years ago. We have 4 folks streaming and almost 75% is now Hulu or Prime. Selling Netflix
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