UBS maintains its bullish stance on Netflix with a fat PT hike

Analysts at UBS continued to stay bullish on streaming giant Netflix (NASDAQ:NFLX) and gave the stock a $300 price target hike.

They believe secular trends and competitive dynamics remain supportive of the company’s ability to drive stronger paid and ad-supported monetization and improve operating leverage. The stock remains a top pick under UBS’ coverage of media companies due to its favorable industry positioning and growing platform engagement.

“Solid viewership trends, a strong pipeline for new titles, and the favorable industry backdrop give us rising conviction in Netflix’s ability to drive subscriber growth, monetization, and margin expansion in the coming years,” UBS said in a June 3 research note.

UBS noted that consumption of general entertainment on linear is fading, but it still accounts for about 30% of all TV consumption in the U.S. across streaming and linear, which suggests that there are still several more years of viewership substitution in Netflix’s largest and most mature market.

“With engagement on an upward trajectory and Netflix’s share of total TV viewing still at ~8% in the U.S. (its largest and most mature market), we think there is a long runway ahead for potential share gains and viewership substitution from linear TV,” the research firm said.

UBS also pointed out that Netflix Originals have accounted for a larger portion of top title consumption in the U.S. so far in 2025, at ~55% of tracked viewership vs. 49% for the same time last year.

NFLX has a “buy” rating and a PT of $1,450, up from $1,150, implying an upside of 19%. Stock is up over 37% so far this year, while the benchmark S&P index is up 1.5%.