With worries about the impact of a global tariffs war, recession fears and stock market volatility, where should media and entertainment investors put their money in such tumultuous times?

Morgan Stanley analyst Benjamin Swinburne recommends Netflix shares ahead of the streaming giant’s first-quarter earnings report after the stock market close on April 17.

“A more defensive lens to our media & entertainment coverage leaves us incrementally bullish on Netflix,” he wrote in a recent report. “We expect Netflix to demonstrate relative resilience in a weaker global macro. Momentum in its core subscription business combined with recent U.S. dollar weakness should de-risk ’25 estimates – even in a softer ad market.” Reiterating his “overweight” rating on the stock, he designated Netflix his new top pick in the sector, noting that he and his team “view the recent

pullback [in the stock] as a buying opportunity, with over 30 percent upside to our $1,150 price target.”

After its recent pullback,...