Netflix stock: Deutsche Bank gets bullish as valuation leaves room to run

Investing.com -- Deutsche Bank upgraded Netflix to Buy from Hold in a note Tuesday, saying the stock's lower valuation undervalues its growth outlook. Still guessing which names to buy? Our AI rebuilds its stock picks at the start of every month. The list is beating the market by 120%. See what's on it » The bank cut its price target to $95 from $100 after lowering its operating income and free cash flow estimates, but the target still implies 37% upside. Analyst Bryan Kraft said Netflix trades at 18 times Deutsche Bank's 2027 earnings estimate, down from about 40 times forward earnings in June 2025, when the stock peaked. "We never thought of ~40x as a reasonable multiple for Netflix given the company's decelerating growth outlook," Kraft wrote.