TD Cowen Reiterates Buy Rating and $100 Target on Netflix Ahead of Earnings

TD Cowen has reiterated its Buy rating and $100 price target on Netflix, projecting an upside potential of approximately 49% from its recent share price of $67.06. Analyst John Blackledge noted that market concerns over softer subscriber engagement trends are overblown and overshadowed by catalysts like advertising-supported tiers, live content, vertical video, and podcasts. Although the firm trimmed select operating income and EBITDA estimates, it kept the $100 valuation by rolling its discounted cash flow model to 2027. Netflix is scheduled to report third-quarter earnings on October 20.