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Uerkwitz raised his price target on Netflix, Inc. by 6.3%.

The analyst told investors he made the move "to reflect the answers* of 380 password-borrowing households when asked how they would respond to Netflix's upcoming password-sharing solution."

"38% of respondents said that they would retain Netflix against his firm's estimates of a 21% retention rate in 2023 growing to about 45% by end of 2024," Uerkwitz reported.

Accordingly, in light of the survey, he "feels good about" his Netflix model, the analyst said.

* From here: While 62% of the “password borrowers” said they would stop using Netflix when it begins charging for password sharing, 38% said they would pay. Among those who said they would stop using Netflix, 35% said they would replace it with another service, 31% said they didn’t like the service enough to pay for it, and 25% said they couldn’t afford it.