Netflix Analyst: "We See a 15% Upside Case." NFLX Lost 9.7% in One Session.

JPMorgan's TV & Media analyst published a glowing note on Netflix's Q1 earnings three business days before the company reported. The analyst highlighted "accelerating" ad growth and "surprisingly" stable churn metrics. Within 24 hours of earnings release, Netflix reported that password sharing cleanup had plateaued faster than expected and that European growth was cooling. The stock promptly erased JPMorgan's 15% "upside case" — *before lunch*. By Friday close, NFLX was down 9.7% for the week. The analyst's price target remains unchanged, which is the financial equivalent of pretending nothing happened.