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Fly News Breaks for July 19, 2016
NFLX
Jul 19, 2016 | 10:04 EDT
As previously reported, UBS analyst Doug Mitchelson downgraded Netflix to Neutral from Buy in a post-earnings note to investors, stating that the company's price increases have presented more of a challenge than was expected. Mitchelson lowered his U.S. net subscriber additions estimate for 2016 by 1.05M to 3.95M and his International net add forecast by 1.5M to 11.5M. Starting from the lower expected 2016 base, his 2020 U.S. subscriber estimate is lowered by 3M to 58M. Citing the lower subscriber forecasts, Mitchelson cut his price target for Netflix shares to $92 from $130.
News For NFLX From the Last 2 Days
NFLX
Mar 27, 2024 | 08:06 EDT
Wedbush analyst Michael Pachter raised the firm's price target on Netflix to $725 from $615 and keeps an Outperform rating on the shares. The firm also removed Netflix from Wedbush's Best Ideas List after a year of significant growth. The firm's quarterly survey indicates a seasonal deceleration in subscribers and an expansion of subscribers on Netflix's ad tier. As long as global trends remain consistent and the ad market continues to improve this year, Wedbush expects Netflix to continue to report strong results. With that said, some of the major catalysts that drove its Best Ideas List placement have been priced in. The firm thinks the ad tier will continue to limit churn, and it has a significant opportunity to expand its advertising revenue in 2024 and beyond. Furthermore, Wedbush believes Netflix has reached the right formula with global content creation, balancing costs, and increasing profitability.
NFLX
Mar 26, 2024 | 05:40 EDT
BofA added Spotify (SPOT) to its US 1 List while removing Netflix (NFLX). The list is a collection of the firm's best ideas.