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Fly News Breaks for January 13, 2017
NFLX
Jan 13, 2017 | 06:01 EDT
Deutsche Bank analyst Bryan Kraft upgraded Netflix to Hold saying the company's Q4 results next week will exceed management's guidance and the consensus estimate for international subscribers. The key driver of stock movement around earnings reports has predominantly been subscribers, Kraft tells investors in a research note. While Netflix's valuation remains "aggressive," its momentum over the near-term should be positive, the analyst contends. He points out that his initiation with a Sell rating on October 9, 2016, was based on his belief that the share price was two years ahead of the fundamentals and that a sale of Netflix was highly unlikely. Kraft upped his price target for the shares to $110 from $92. The streaming service closed yesterday down $1.32 to $129.18.
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.