01:09 PM EDT, 10/10/2024 (MT Newswires) -- Netflix ( NFLX ) is expected to post strong results for the third quarter next week and announce price increases, Oppenheimer said in a note emailed Thursday.

The company's share of minutes in the Nielsen Top-10 for streaming television rose to 66% in the third quarter through Sept. 1 -- the highest rating since the second quarter of 2023 -- from 54% in the second quarter, according to the brokerage's report.

Oppenheimer continues to project revenue of $9.8 billion and GAAP earnings per share of $5.10 for the third quarter, implying improvements from $8.5 billion and $3.73 in the same period a year earlier. Analysts surveyed by Capital IQ are modeling for revenue of $9.76 billion and EPS of $5.09. Netflix ( NFLX ) is scheduled to report results for the period on Oct. 17.

After Netflix ( NFLX ) announced premium-tier price increases in the US, UK and France last October, Oppenheimer expects the streaming giant to tack on premium pricing hikes for other regions this month and "more importantly" increase standard prices by 8% to 15%.

Only 40% of pending price increases are factored into consensus estimates, a group of analysts including Jason Helfstein wrote in a research report reiterating an outperform rating and raising their price target on the stock to $775 from $725.

Netflix ( NFLX ) has not increased standard price since January 2022, the analysts said.

Upcoming content releases should help ease churn rates despite the hikes, according to the analysts. Oppenheimer upped its fourth-quarter revenue forecast to $10.2 billion from $10 billion and its EPS target to $4.05 from $3.92. The brokerage also raised 2024 estimates.

In its updated model reflecting the price changes, Oppenheimer lifted its 2025 average revenue per membership estimate by 2% to $12.65, above the consensus' $12.40 view. Oppenheimer upped its revenue target to $45.3 billion from $44.4 billion, 4% higher than the Street's estimate.

Price: 731.89, Change: +4.46, Percent Change: +0.61