01:35 PM EDT, 07/30/2024 (MT Newswires) -- Netflix ( NFLX ) has a clear long-term visibility and merits a premium valuation, Oppenheimer said in a note emailed Tuesday.

Oppenheimer highlighted the company's clear revenue drivers through 2026, including subscriber growth in the rest of 2024, potential price hikes in 2025, and advertising monetization the year after that.

"While [Netflix ( NFLX )] has already won the streaming wars, eventual consolidation will drive more viewership to [Netflix ( NFLX )], with nearly 12% viewing share likely up for grabs from consolidation driving margin leverage," Oppenheimer said.

Oppenheimer said customers do not like an unlimited number of streaming platforms and half of the streaming services today will not exit in the next four years. This will significantly increase Netflix's ( NFLX ) return on investment on its content.

Oppenheimer has an outperform rating on Netflix ( NFLX ) with a price target of $725.

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