Luxury line-up plus Netflix expected to be strong in fourth quarter

Netflix announced its biggest-ever movie investment on Wednesday, and JPMorgan said the movie Irishman could be an important boost for Netflix to boost the stock. The three-hour, 30-minute gangster film, directed by Martin Scorsese, cost up to $100 million and starred Robert De Niro, Al Pacino and Joe Percy, and Netflix believes such a luxurious lineup will boost its streaming subscriber base.

Luxury line-up plus Netflix expected to be strong in fourth quarter

In a note to clients on Wednesday, Doug Anmuth, a research analyst at JPMorgan, said Damore found Netflix’s current share price level sattractive, and that Disney’s (151.48, -0.16, 0.11%) was a hit with a series of tough data. After its first-day reach of 10 million subscribers, Netflix’s upcoming release of The Irishman will take the stock to a more positive direction, making it the most expensive film in Netflix’s history.

Luxury line-up plus Netflix expected to be strong in fourth quarter

Netflix’s shares have risen about 17 percent this year, lagging behind the 25 percent gain in the S.P. 500. Media giant Disney earlier this month released Disney Plus, which attracted 10 million users on its first day of trading. The series of news has left Netflix’s share price in a state of struggle, and the film is expected to turn the corner.

J.P. Morgan noted that The Irishman has received very positive criticism and responses since its release at the New York Film Festival in September. Netflix’s Murder Mystery, which launched in June 2019, is the company’s best-performing film in its first week, and The Irishman is expected to outperform the film in its first week of the holiday, Anmuth said.

Anumuth also said that Netflix’s movie lineup was luxurious in the fourth quarter, with the release of “The Deadly Poisoner”, “The Laundromat,” “Dolium Is My Name, “The Crown. and a number of TV series.

J.P. Morgan also believes that the launch of HBO Max and Peacock will eventually help Netflix.

Mr. Anmuth said more streaming content would accelerate the transition from cable and would ultimately benefit Netflix.

JPMorgan has rated Netflix as an increase, with a target price of $425 per share. (Chinese Investment Network)

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