TD Cowen reaffirms Netflix 'buy' rating with $100 price target (Oct 5)
What happened
On Monday, October 5, 2026, TD Cowen reaffirmed its 'buy' rating on Netflix (NFLX) with a $100 price target, just one week after initiating coverage of the stock with a buy rating on September 29. The reaffirmation lands amid an unusually busy two weeks of Wall Street reassessment on the name: Deutsche Bank upgraded Netflix to buy ($95 target, from $100) on September 29, Bernstein initiated at buy on September 28, while the bearish camp includes Wells Fargo's downgrade to Underweight ($57 target) on September 18 and HSBC's cut to Hold ($76) on September 22. Netflix stock has fallen roughly 25-28% year-to-date and is on a five-week losing streak, with a ~$279B market capitalization and trading near $67-70 — well below its 12-month high of ~$125.
Why it matters & what’s next are part of Pro, along with the audio summary.
Start your free 14-day trialWho’s affected
- Netflix (NFLX) — direct beneficiary of a buy reaffirmation with a $100 target implying roughly 40-45% upside from the recent ~$67-70 trading range; modest follow-through expected since this is a reaffirmation rather than an initiation or upgrade
- Streaming peers (DIS, WBD, PARA) — secondary read-through only; the note is Netflix-specific