Analyst: Lack of live sports could accelerate cord-cutting

Baird analyst William Power today lifted his rating on Netflix to Outperform from Neutral, boosting his target price from $350 to $415. Power also cut his ratings on both AT&T and Comcast from Outperform to Neutral. Power reasons that the lack of live sports and growing economic pressures due to the COVID-19 coronavirus pandemic are likely to accelerate cord-cutting — making Netflix a “key beneficiary” to such an accelerated trend.
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