By George Glover

Netflix is on a stellar run -- but the video streamer's shares could still have upside thanks to their tariff resilience and new series of Stranger Things and Bridgerton.

That's the view of Seaport Research Partners analyst David Joyce, who rates the red-hot tech stock at a Buy. He raised his price target to $1,230 from $1,060 Thursday -- that implies shares could rise about 4.4% from their current level.

Those aren't eye-popping gains, but Joyce said he sees Netflix as more of "a core holding with limited downside" and "a good buy-on-the-dip candidate." He expects the company's earnings before interest, taxes, depreciation and amortization to jump 14% to $15.24 billion between the start of this year and the end of 2026, citing a slate of new content, the success of the streamer's ad-supported tiers, and subscription price hikes.

Joyce added that the stock's "recession-resilience during the spring market turbulence" should also boost their appeal. The stock is up about 25% since April 2, when President Donald Trump's tariff plans sparked a broad and brutal market selloff. Investors see it as a safe haven because Netflix imports content, rather than goods. The benchmark S&P 500 is up 5% over the same period.

This week, Barron's argued that Netflix stock remains a Buy despite its lofty valuation, with its margin likely to grow at a fast enough rate to maintain momentum.

The streamer's own executives are also targeting further gains. They're aiming to double revenue and reach a $1 trillion market capitalization by the end of 2030, The Wall Street Journal reported last month, citing people familiar with the matter. As of Thursday's close, Netflix had a market capitalization of just over $500 billion.

Write to George Glover at george.glover@dowjones.com

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May 16, 2025 07:28 ET (11:28 GMT)

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