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Skip NavigationMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenuThere’s a big buying opportunity in Netflix , according to Deutsche Bank. Analyst Bryan Kraft upgraded the streaming giant to buy from hold. While he lowered his price target $95 from $100, that still implies upside of 37% from Monday’s close. Netflix shares are down more than 14% in September, putting them on pace for their worst monthly performance since June — when it plunged 17%. The stock is also down more than 26% for the year, on track for its biggest annual decline since 2022. Concerns around user engagement have weighed on the stock. Wells Fargo earlier this month lowered its rating on Netflix to underweight , noting trends on that front are worrisome. But Deutsche’s Kraft thinks investors are missing the bigger picture. NFLX YTD mountain NFLX year to date “Netflix has an established competitive advantage and substantial lead over competitors in international production, which is evident in Netflix’s well-diversified geographic content production mix,” he said. “We believe this advantage will allow Netflix to sustain its global leadership position. More than 60% of production is now outside of the US.” Kraft added that Netflix “has the brand strength, global scale in subscribers/revenue, and organizational expertise to continue to broaden its position as a platform (Netflix As A Platform, NAAP), rather than limiting itself to a vertically integrated entertainment producer and programmer.” The stock ticked higher by more than 1% following the upgrade. Most analysts covering Netflix shares are bullish. According to LSEG data, 37 of 51 rate the stock a buy or strong buy.Read More