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NFLX

Netflix

$178.36

-2.97 (-1.64%)

, DIS

Disney

$106.98

0.63 (0.59%)

05:47
08/09/17
08/09
05:47
08/09/17
05:47

Piper says Netflix does not need Disney

Netflix's (NFLX) distribution agreement with Disney was a "nice to have" but not a "need to have," Piper Jaffray analyst Michael Olson tells investors in a research note after Disney said the agreement would end in 2019. While a negative headline for Netflix, the actual impact on the subscriber base will be minimal, Olson argues. The analyst points out that assuming Netflix will spend around $7B on content in 2017, the amount spent for Disney programming, rumored to be $200M annually, only accounts for 3% of overall content costs. This percentage is likely consistent with time spent viewing Disney content by Netflix subscribers, Olson contends. He believes Netflix can find ways to reallocate the $200M to create "similarly engaging (and more exclusive) content for its subscriber base." Olson maintains an Overweight rating on Netflix shares with a $215 price target. The streaming service is down 4%, or $6.83, to $171.53 in premarket trading.

NFLX

Netflix

$178.36

-2.97 (-1.64%)

DIS

Disney

$106.98

0.63 (0.59%)

NFLX Netflix
$178.36

-2.97 (-1.64%)

08/08/17
PIPR
08/08/17
NO CHANGE
Target $215
PIPR
Overweight
Netflix price target raised to $215 from $198 at Piper Jaffray
Piper Jaffray analyst Michael Olson raised his price target for Netflix shares to $215 to reflect increased international subscriber estimates. The streaming service closed yesterday up $1.06 to $181.33. By 2020, the analyst expects Netflix will reach 64M domestic subscribers or 50% U.S. household penetration. His analysis suggests that Netflix can reach 100M international subscribers by 2020, with "zero or very minimal penetration in lower income international markets." Olson increased his international subscriber estimate for 2020 to 100M and believes "this could still be conservative." The analyst keeps an Overweight rating on Netflix.
07/27/17
MKMP
07/27/17
NO CHANGE
MKMP
Buy
Netflix earnings of $30 possible over time, price target to $230 at MKM Partners
MKM Partners analyst Rob Sanderson raised Netflix's price target to $230 from $195 and said he continues to believe the global opportunity is very large. The analyst is looking for $12 of earnings power in 2021 and thinks $30 of earnings power is possible over time when modeling 90M US and 300M international subscribers, modest ARPU increases and a $24B content budget. Sanderson rates Netflix a Buy.
07/26/17
BTIG
07/26/17
NO CHANGE
BTIG
Netflix price target raised to $225 from $170 at BTIG
BTIG analyst Richard Greenfield increased his price target on Netflix as he raised his 2017 subscriber estimate for the company by 2.4M and says that the company is threatening conventional TV broadcasters. The analyst says he is surprised by the acceleration of U.S. subscriber growth ,and he keeps a Buy rating on the shares.
07/18/17
07/18/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Netflix (NFLX) upgraded to Buy from Neutral at Rosenblatt with analyst Alan Gould saying the report was "just too good" not to reexamine his rating. The analyst increased his price target to $200 from $155. 2. Chipotle (CMG) upgraded to Buy from Hold at Maxim with analyst Stephen Anderson saying he believes that the introduction of queso dip will be an important catalyst in 2018 and now thinks the recent pullback in shares provide an opportunity to participate in the recovery at Chipotle. Anderson raised his 2018 earnings per share estimate to factor in a phased-in introduction of queso nationwide and increased his price target on Chipotle shares to $460 from $440. 3. O'Reilly Automotive (ORLY) upgraded to Buy from Neutral at Northcoast with analyst Nicholas Mitchell saying shares are down over 40% in the past year and believes the slowdown in same-store-sales to start the year was a result of lackluster consumer demand and not a dramatic shift to ecommerce. 4. Fifth Street Finance (FSC) upgraded to Buy from Neutral at National Securities and to Buy from Hold at Deutsche Bank. 5. SeaWorld (SEAS) upgraded to Neutral from Sell at Goldman Sachs with analyst Christopher Prykull saying that while concerns remain, the risk/reward is more balanced at current share levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DIS Disney
$106.98

0.63 (0.59%)

08/04/17
JEFF
08/04/17
NO CHANGE
Target $78
JEFF
Buy
Activision Blizzard building Disney-type media business, says Jefferies
Jefferies analyst Timothy O'Shea raised his price target for Activision Blizzard (ATVI) to $78 from $68 while listing five reasons to buy the stock in a post-earnings research note. The company generated $1B of in-game spending in Q2, which is a "meaningful driver" of margin expansion, O'Shea writes. He expects Destiny 2 and Call of Duty WW2 to drive strong second half of 2017 results. Activision is building a Disney-type media business for the 21st Century, argues O'Shea. He keeps a Buy rating on the shares.
07/18/17
RBCM
07/18/17
NO CHANGE
RBCM
Disney should be owned into Q3 results, says RBC Capital
RBC Capital analyst Steven Cahall recommends owning Disney stock into the company's Q3 results. The analyst says that the company's Q3 results "may be coming down." However, he remains upbeat on its fiscal 2018 outlook, partly due to his belief that its Parks results will beat expectations.
06/23/17
BOFA
06/23/17
NO CHANGE
Target $125
BOFA
Buy
Disney removed from US 1 List at BofA/Merrill
BofA/Merrill analyst Jessica Reif Cohen removed Disney from the US 1 List and lowered Q2 EBIT estimate to down 10% from up 2% to reflect reduced Consumer Products growth, increased Cable Networks and Studio Entertainment declines, , lower Theme Parks operating income, and softer Broadcasting contribution. The analyst's Q3 earnings estimate goes to $1.53 from $1.75, FY17 to $5.91 from$6.15, and FY18 to $6.70 from $7.16, and her price target goes to $125 from $134. Despite the changes, Cohen believes Disney offers best in class assets with above average growth and maintains a Buy rating.
06/23/17
BOFA
06/23/17
NO CHANGE
BOFA
Buy
Disney removed from US 1 list at BofA/Merrill (pre-open)
BofA/Merrill removed Disney from its US 1 list before the open. The firm keeps a Buy rating on Disney shares.

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LPTN

Lpath

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TMO

Thermo Fisher

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SMBC

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IEP

Icahn Enterprises

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NVTA

Invitae

$9.60

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Invitae

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MU

Micron

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INSY

Insys Therapeutics

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AKTX

Akari Therapeutics

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TGT

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ATW

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