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NFLX

Netflix

$102.34

-0.29 (-0.28%)

, AAPL

Apple

$113.00

0.48 (0.43%)

07:06
10/05/16
10/05
07:06
10/05/16
07:06

Bernstein sees no 'compelling rationale' for Apple buying Netflix

Bernstein analyst Toni Sacconaghi says he does not see a "compelling rationale" for Apple (AAPL) acquiring Netflix (NFLX). The steaming service has recently been the subject of takeover speculation, with Disney (DIS) mentioned as a possible suitor. Buying Netflix to run exclusively on Apple's operating service and AppleTV is "not a value-creating thesis and could not possibly justify a $50B price tag," Sacconaghi tells investors in a research note. Apple could buy Netflix and continue to run it as it does today, but that "would be highly out of character" for the iPhone maker, the analyst contends. Sacconaghi believes Apple could get much of the benefit of a services offering with much less upfront risk by partnering with Netflix, rather than acquiring it. He sees a partnership as more likely than a takeover. Further, Sacconaghi thinks a potential a partnership or acquisition by Apple does not justify owning Netflix since a deal is very hard to predict. The analyst has an Outperform rating on Apple and an Underpeform rating on Netflix. He has a $62 price target for Netflix shares. The streaming service closed yesterday down 29c to $102.34.

NFLX

Netflix

$102.34

-0.29 (-0.28%)

AAPL

Apple

$113.00

0.48 (0.43%)

  • 17

    Oct

  • 25

    Oct

  • 29

    Nov

NFLX Netflix
$102.34

-0.29 (-0.28%)

09/26/16
UBSW
09/26/16
NO CHANGE
Target $92
UBSW
Neutral
Consumer satisfaction with competitors has caught up to Netflix, says UBS
UBS analyst Doug Mitchelson said that the firm's Evidence Lab survey indicated that U.S. consumer satisfaction with Amazon Prime Video (AMZN) and Hulu - the joint venture owned by Time Warner (TWX), Comcast (CMCSA), 21st Century Fox (FOXA), and Disney (DIS) - has now caught up to Netflix (NFLX), advising that investors should "continue to monitor competitive threats closely" as Netflix leads the category but demand for consumer media time, attention and wallet has intensified. The analyst, who added that Netflix's "pricing power remains unclear" based on the firm's survey work, keeps a Neutral rating and $92 price target on Netflix shares.
09/27/16
JPMS
09/27/16
NO CHANGE
Target $125
JPMS
Overweight
Netflix price target raised to $125 from $116 at JPMorgan
JPMorgan analyst Doug Anmuth raised his price target for Netflix to $125 on a roll forward to his 2017 estimates. The analyst keeps an Overweight rating on the shares. The target is for December 2017.
10/04/16
MUSA
10/04/16
NO CHANGE
MUSA
Netflix Q3 international subcriber adds likely to top consensus, says M Science
M Science analyst Corey Barrett, in a note published before the open, said he expects Netflix to report Q3 international subscriber additions of 2.18M, which is above the 2M subscriber consensus forecast. Previously, M Science said Netflix churn indications in July and August led it to set a domestic paid net subscriber addition estimate for Q3 of zero, below the Q3 consensus estimate of 351,000 and guidance of 400,000. Combining the two, the firm estimates Netflix will report Q3 global streaming subscriber additions of 2.08M, which is below the consensus estimate of 2.3M.
10/04/16
LOOP
10/04/16
INITIATION
LOOP
Buy
Netflix initiated with a Buy at Loop Capital
Loop Capital analyst David Miller initiated Netflix with a Buy and a $125 price target.
AAPL Apple
$113.00

0.48 (0.43%)

09/29/16
LEHM
09/29/16
NO CHANGE
Target $114
LEHM
Overweight
Barclays removes Apple as Top Pick after trimming global smartphone forecast
Barclays analyst Mark Moskowitz removed the firm's Top Pick designation on Apple (AAPL) shares after the firm trimmed its 2016 smartphone revenue and unit growth estimates, saying that the firm's research is not pointing to any major improvement in smartphone units beyond initial channel fill for the new iPhones and Samsung (SSNLF) Galaxy products. The firm now estimates a decline of 2.9% in smartphone revenue and growth of 2.6% in smartphone units, versus its prior forecast for a revenue decline of 0.7% and unit growth of 3.7% in 2016. Moskowitz, who thinks Apple shares may see near-term choppiness after their recent run-up, keeps an Overweight rating on the stock but lowered his price target to $114 from $115.
09/29/16
LEHM
09/29/16
NO CHANGE
Target $61
LEHM
Overweight
Western Digital is a new Top Pick in IT Hardware at Barclays
Barclays analyst Mark Moskowitz recommends investors build positions in Western Digital (WDC) and named it his new Top Pick in IT Hardware, removing Apple (AAPL). Western Digital issued a positive September quarter financial update citing a favorable mix in both HDD and SSD, and particularly good pricing conditions in NAND flash, the analyst wrote. Moskowitz believes the company's commentary is positive for investor sentiment and added it to the top spot given improving end markets, reduced industry manufacturing capacity, and potential for further operational synergies. He recommends investors build or add positions in Western Digital as gross margins should trend upward in the near- to mid-term. Moskowitz rates Western Digital an Overweight with a $61 price target on shares.
09/30/16
SBSH
09/30/16
NO CHANGE
Target $130
SBSH
Buy
Apple price target raised to $130 from $120 at Citi
Citi analyst Jim Suva raised his price target for Apple shares to $130 from $120 and keeps a Buy rating on the name. The stock closed yesterday down $1.77 to $112.18. U.S., Canada, European and Asian store checks indicate iPhone 7 demand at launch appears strong, Suva tells investors in a research note. Supply remains a limiting factor with many stores having received very limited supply of the iPhone 7 and in some cases only to suffice demand from preorders, the analyst adds. Suva raised his iPhone estimate for the December quarter to 79.4M units, above the consensus of 75M units.
10/03/16
PIPR
10/03/16
NO CHANGE
Target $151
PIPR
Overweight
Apple checks show iPhone 7 inventory still constrained, says Piper Jaffray
Piper Jaffray analyst Gene Munster said his checks of 134 Apple Stores in the U.S. showed that iPhone 7 and iPhone 7 Plus inventory levels are improved, but still constrained, and that supply appears even tighter in China. The limited supply of the iPhone 7 Plus should bode well for the December quarter outlook, adds Munster, who keeps an Overweight rating and $151 price target on Apple shares.

TODAY'S FREE FLY STORIES

XLP

Consumer Staples Sector SPDR

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0.02 (0.04%)

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XLV

Health Care Select Sector SPDR

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IWM

iShares Trust Russell 2000 Index Fund

$140.91

0.93 (0.66%)

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DIA

Diamonds Fund ETF

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SPY

SPDR S&P 500 ETF Trust

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0.29 (0.12%)

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IDXG

Interpace Diagnostics

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XLF

Financial Select Sector

$23.89

-0.09 (-0.38%)

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SMH

Market Vectors Semiconductor

$85.67

0.35 (0.41%)

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QQQ

PowerShares QQQ Trust

$141.24

0.54 (0.38%)

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ANW

Aegean Marine

$5.35

0.1 (1.90%)

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$COMP

Nasdaq Composite

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Nasdaq Composite: Pivot points »

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NDX

Nasdaq 100 Index

$5,803.11

23.23584 (0.40%)

08:16
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Nasdaq 100 Index: Pivot points »

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08:15
06/26/17
06/26
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08:15
General news
Durable Goods Orders to be reported at 08:30 »

May Durable Goods Orders…

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Durable Goods Orders Ex-transportation to be reported at 08:30 »

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Chicago Fed National Activity Index Level to be reported at 08:30 »

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KHC

Kraft Heinz

$88.85

-0.25 (-0.28%)

, CAG

Conagra Brands

$37.23

0.14 (0.38%)

08:14
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08:14
Recommendations
Kraft Heinz, Conagra Brands, Dean Foods, Nestle, General Mills, Pinnacle Foods analyst commentary  »

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KHC

Kraft Heinz

$88.85

-0.25 (-0.28%)

CAG

Conagra Brands

$37.23

0.14 (0.38%)

DF

Dean Foods

$17.71

0.08 (0.45%)

NSRGY

Nestle

$84.83

0.4 (0.47%)

GIS

General Mills

$55.94

-0.06 (-0.11%)

PF

Pinnacle Foods

$61.92

0.4 (0.65%)

03/08/13
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ARNC

Arconic

$25.54

0.24 (0.95%)

08:12
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Periodicals
Arconic supplied flammable panels for use in Grenfell Tower, Reuters reports »

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OCUL

Ocular Therapeutix

$10.15

-1.39 (-12.05%)

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XLF

Financial Select Sector

$23.89

-0.09 (-0.38%)

, XLV

Health Care Select Sector SPDR

$80.47

-0.12 (-0.15%)

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XLF

Financial Select Sector

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XLV

Health Care Select Sector SPDR

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SPY

SPDR S&P 500 ETF Trust

$243.13

0.29 (0.12%)

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IMGN

ImmunoGen

$6.06

0.24 (4.12%)

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CBIO

Catalyst Biosciences

$4.53

0.02 (0.44%)

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  • 26

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NLSN

Nielsen

$37.46

0.32 (0.86%)

, FRED

Fred's

$10.25

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Nielsen, Fred's expand strategic analytics relationship »

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NLSN

Nielsen

$37.46

0.32 (0.86%)

FRED

Fred's

$10.25

0.38 (3.85%)

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  • 28

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ATOS

Atossa Genetics

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FNF

FNF Group

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VC

Visteon

$95.91

1.05 (1.11%)

08:07
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Upgrade
Visteon rating change  »

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