Buy Netflix and Spotify Stock Because Wall Street Is Being Short-Sighted, Citi Says – Barrons

Netflix and Spotify Technology were upgraded to Buy from Neutral by Citigroup, which said Wall Street was not looking out far enough for potential subscriber growth.

Prevailing equity values of Netflix (ticker: NFLX) and Spotify (ticker: SPOT), don’t assume material subscription growth or improving economics beyond 2023, the Citi analysts argued in a note Monday morning as part of a look at subscriber-based stocks after significant pressure. 

“While…

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