One of Wall Street's top analysts said the massive drop in Netflix shares on fears of rising content costs, competition and Brexit is overdone.
His price target calls for a rebound of more than 60 percent.
"Reports of Netflix's demise have been greatly exaggerated," Stifel Nicolaus' Scott Devitt wrote in a note to clients. "Netflix's robust slate of originals has solidified its leadership in streaming video and a deceleration in cash spend this year suggests Netflix may see meaningful content leverage in 2017-2018,"
Devitt's picks have a 15 percent one-year average return, according to analyst ranking service TipRanks, placing him in the top 2 percent of all Wall Street analysts covering any industry.
The analyst reiterated his $143 price target on Netflix, representing 68 percent upside from Monday's close. The stock is down more than 25 percent so far in 2016, including a 7 percent loss in the last week amid the global Brexit crisis.