Here's Why Piper Sandler Sees 34% Upside In This Streaming Giant

• Piper Sandler analyst Thomas Champion reiterated an Overweight rating on Netflix Inc (NASDAQ:NFLX) with a $705 price target, implying an upside of 34.1%.
• Champion's rating comes ahead of the company's Q4 results on Thursday. 
• The analyst remains constructive on the shares long-term, citing the structural opportunity in streaming video. 
• The stock is down 10% in the last month on Q4 subscriber net additions concerns despite a robust Q4 content slate and survey data "pointing to robust consumption," Champion adds.
• Price Action: NFLX shares traded lower by 0.98% at $520.55 in the premarket session on the last check Tuesday.