What's Going On With Netflix Shares

Netflix Inc NFLX shares are trading marginally lower by 1.05% to $322.90 Thursday morning. Morgan Stanley analyst Benjamin Swinburne maintained Netflix with a Equal-Weight and raised the price target from $275 to $300.

What's Going On?

Morgan Stanley says the weakening U.S. Dollar lifts 2023, 2024 estimates ahead of consensus, which accounts for the price target raise of $275 to $300. Morgan Stanley research additionally sees Netflix's new ad-tier and paid sharing success is largely baked into expectations and valuation.

Furthermore, at over 50% of revenue, Morgan Stanley says that leveraging content costs as the key for Netflix to supporting long-term margin expansion and the stock's premium valuation.

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According to data from Benzinga Pro, NFLX has a 52-week high of $526.64 and a 52-week low of $162.71.