Evercore Reaffirms Bullish Netflix Call, Sees Growth and Pricing Power Driving Long-Term Upside

Evercore ISI reiterated its Outperform rating and $1,100 price target on Netflix (NASDAQ:NFLX), pointing to the streaming giant’s expanding global opportunity, strong execution, and rising profitability as key reasons for optimism.

The firm highlighted recent survey work in the U.S. and Japan as reinforcing confidence in Netflix’s dominant position within a $650+ billion global entertainment market (excluding China and Russia). Despite its leadership, the company still holds a single-digit share, suggesting ample runway for growth.

Netflix continues to distinguish itself with one of the most experienced management teams in tech, a compelling consumer value proposition, and a proven record of innovation across content, user interface, and monetization.

The analysts emphasized that the company’s operating margins and free cash flow have turned a corner, enabling strategic flexibility—such as share buybacks and the potential for future dividends.

In the event of a macro downturn, the firm also sees Netflix’s $7.99 ad-supported plan as a best-in-class entertainment bargain, appealing to cost-conscious consumers.

However, with shares trading within 18% of Evercore’s price target and at 31x 2026 EPS estimates, the stock doesn’t currently qualify as a “Dislocated High Quality” pick. That said, a pullback toward $750 (25x P/E) would make it an even more attractive opportunity.