Publications
Publications
- September 2022
- HBS Case Collection
Bear to Bull: An Analyst’s Journey with Netflix
By: Aiyesha Dey, Joseph Pacelli, Jennifer G. Lawson and Tom Quinn
Abstract
Wedbush Securities analyst Michael Pachter said “hell freezing over” was more likely than him upgrading the “sell” rating he had maintained on movie and television streaming giant Netflix since 2011, despite meteoric subscriber and share price growth. In 2022, however, Pachter raised his rating – twice. The case explores the sell-side equity analyst industry, Netflix from the perspective of an equity analyst, Pachter’s “bear” thinking through the years, and his logic in becoming a “bull.”
Keywords
Accounting; Asset Pricing; Cash Flow; Investment; Stocks; Financial Services Industry; Entertainment and Recreation Industry; United States
Citation
Dey, Aiyesha, Joseph Pacelli, Jennifer G. Lawson, and Tom Quinn. "Bear to Bull: An Analyst’s Journey with Netflix." Harvard Business School Case 123-001, September 2022.