KeyBanc Reaffirms Overweight Rating for Netflix (NFLX), Sees Strong Ad Revenue Growth

Netflix Inc. (NASDAQ:NFLX) ranks among the best communication services stocks to buy now. KeyBanc Capital Markets reaffirmed its Overweight rating and $1,390 price target for Netflix Inc. (NASDAQ:NFLX) on September 11 in response to the streaming giant’s partnership with Amazon Ads. The price target is a multiple of 35 times Netflix’s anticipated price-to-earnings ratio in 2027.

The investment firm believes that Netflix’s increasing variety of demand-side platforms (DSPs) is an asset that should help the company’s ad revenue.

According to KeyBanc, Netflix’s low double-digit percentage revenue growth through 2027 will be supported by this diversification approach.

Netflix Inc. (NASDAQ:NFLX) is a well-known global streaming platform that provides limitless access to a vast collection of films, TV series, and video games on devices with internet connections.

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Disclosure: None. This article is originally published at Insider Monkey.