On December 9, Wells Fargo issued a research report stating that it raised Netflix's rating from "wait and see" to "overweight" and raised its target price from US $300 to US $400. Analyst Steve Cahall believes better content, as well as the company's new ad-supported subscriptions and paid account sharing, has helped improve the company's user base. Cahall noted that while competition has increased, COVID-19 pandemic's early boost has faded and content growth has slowed, the company's key performance metrics still have "room" to beat expectations in 2023. Netflix shares are down about 48% so far this year...
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