Evercore raises Netflix target to $110 on improving U.S. and Japan subs
Sep 14, 2026, 3:32 PM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
A PT hike to $110 based on a 25x 2028 earnings multiple and improving U.S./Japan subs signals potentially higher near-term multiples and cash-flow expectations. Historical similar upgrades have driven 5-15% 1–3 week upticks; sustained upside depends on deeper subs growth and ad-market strength.
AI summary
What happened, with direct paths to the underlying reporting
Evercore ISI raised Netflix's price target to $110, applying a 25x 2028 earnings multiple based on improving U.S. and Japan subscriber trends. Data show stronger domestic penetration and ad-tier retention, with live programming like the World Baseball Classic attracting Japanese subscribers. The catalyst could drive near-term upside in NFLX, though valuation and ad-market dynamics warrant careful monitoring.
Evercore raises NFLX PT to $110; Outperform stance.
U.S. subs at 63%, Japan at 22% penetration (all-time highs).
Ad-supported Standard plan boosts retention and signups in both regions.
Japan retention 58% unlikely to cancel; Japan satisfaction 67%.
NFLX shares up about 4% to $80.52 on the news.
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