Publications
Publications
- February 2023
- HBS Case Collection
Bear to Bull? An Analyst’s Journey with Netflix
By: Aiyesha Dey and Joseph Pacelli
Abstract
Teaching Note for HBS Case No. 123-001. 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.”
Citation
Dey, Aiyesha, and Joseph Pacelli. "Bear to Bull? An Analyst’s Journey with Netflix." Harvard Business School Teaching Note 123-072, February 2023.