- Evercore ISI raised its Netflix price target to $110 from $100 while maintaining an Outperform rating; the new target implies roughly 42% upside from the prior close of $77.40. Netflix shares climbed about 3.5% on September 14.
- The brokerage rolled its valuation framework forward to 2028, applying 25 times its 2028 EPS estimate, and framed Netflix as a sustainable 20% per-share earnings growth stock.
- Evercore's 58th quarterly U.S. subscriber survey put Netflix household penetration at 63%, a multi-year high, with improved churn intentions; Japan penetration hit a record 22%.
- Live programming viewership reached 60% of Netflix users in September, up from 42% in March, and live events accounted for six of the top 10 new-member sign-up days over the past five years.
- Evercore named live events such as the World Baseball Classic and the short-video feed Netflix Clips as engagement and ad-tier subscriber catalysts, with the strongest catalysts landing in 2027 rather than 2026.
Quotes
“Evercore ISI raised its price target to $110 from $100 while maintaining an Outperform rating”
“Evercore views Netflix as a "sustainable 20% per-share earnings growth stock," with catalysts likely emerging more strongly in 2027 rather than 2026”
“60% of Netflix users watched live programming in September, up from 42% in March.”