Netflix (NFLX) is "well positioned" going forward and has a "strong" H2 content slate, BofA Securities said in a research note Friday.

The company is seen to have an "unmatched scale in streaming, further runway for subscriber growth, significant opportunities in advertising and sports/live and continued earnings and [free cash flow] growth," the note said.

Netflix's content slate has a "healthy mix of live/sports content to drive ad-supported engagement," BofA said.

The streaming provider has been a "top performer" in BofA Securities' coverage supported by factors like "sustained earnings momentum," as well as "positive subscriber trends" and a "defensive rotation related to tariffs," the note said.

BofA raised the company's price target to $1,490 from $1,175, while reiterating a buy rating on the stock.

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