- A leg up in engagement due to the COVID-19 pandemic could mean that Netflix (NASDAQ:NFLX) is set for broad price hikes next year, Bernstein suggests.
- That's next year, and not this year, as the outbreak makes a "difficult environment" for anybody to raise prices in 2020, the firm says.
- But "increased engagement and appreciation" from users this year "could make it that much easier for Netflix to successfully pass through pricing increases in 2021."
- It has a price target of $487 (well above consensus), now implying 31% upside.