Bank of America: Netflix's first quarter performance is stable and slightly exceeding expectations, reiterating a "buy" rating.

Bank of America Securities released a report stating that Netflix's first quarter performance was solid, slightly exceeding the bank's forecasts and the company's guidance. The bank lowered its revenue forecast for the second quarter of fiscal year 2026 from $12.59 billion to $12.58 billion, and its operating revenue forecast from $4.31 billion to $4.11 billion, to reflect the company's guidance. For the full year 2026, the bank slightly raised its revenue forecast from $51.28 billion to $51.37 billion, and also raised its operating revenue forecast from $16.18 billion to $16.20 billion. Bank of America reiterated its "buy" rating on Netflix and a target price of $125, stating that the stock price will benefit from the continued positive momentum of subscribers and profits, as well as the wide potential of the advertising and live streaming businesses.