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SPOT

Spotify

, NFLX

Netflix

$379.86

16.07 (4.42%)

07:22
06/14/18
06/14
07:22
06/14/18
07:22

Spotify is not Netflix 2.0, Deutsche Bank says in initiation note

Deutsche Bank analyst Lloyd Walmsley initiated coverage of Spotify Technology (SPOT) with a Hold rating and $155 price target. The stock closed yesterday up 59c to $170.82. The analyst is bullish on the music industry but says he struggles with the bull case on Spotify given the company's "lack of content differentiation or visibility around long term margins." Spotify is not Netflix 2.0 (NFLX), Walmsley tells investors in a research note. The analyst prefers playing the music streaming tailwinds through major labels like Vivendi (VIVHY). Walmsley would become more positive on Spotify if the company grew its market share "considerably,: developed proprietary content consumers valued, diversified away from major labels, or if the stock sold off to lower valuation levels.

SPOT

Spotify

NFLX

Netflix

$379.86

16.07 (4.42%)

VIVHY

Vivendi

$0.00

(0.00%)

SPOT Spotify

06/07/18
06/07/18
UPGRADE
Target $195

Buy
Spotify upgraded to Buy at Buckingham
As previously reported, Buckingham analyst Matthew Harrigan upgraded Spotify to Buy from Neutral and raised his price target on the shares to $195 from $175 given increased core forecast conviction coupled with new indications that Spotify creates better economics for both indie music artists and itself. The analyst remains adamant that Spotify is advantaged in both brand resonance among younger listeners and larger music oriented Artificial Intelligence data set size in building personalized playlists.
06/07/18
BUCK
06/07/18
UPGRADE
BUCK
Buy
Spotify upgraded to Buy from Neutral at Buckingham
05/29/18
05/29/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Unity Biotechnology (UBX) initiated with a Buy at Citi, an Overweight at Morgan Stanley, and a Neutral at Goldman Sachs. 2. Construction Partners (ROAD) initiated with an Outperform at Baird, a Strong Buy at Raymond James, an Overweight at Stephens, and a Buy at DA Davidson. 3. Carbon Black (CBLK) initiated with an Outperform at Cowen and William Blair, an Overweight at KeyBanc and JPMorgan, as well as an Equal Weight at Morgan Stanley. 4. Axon (AAXN) initiated with an Outperform at William Blair. 5. Spotify (SPOT) initiated with a Buy at Pivotal Research. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
06/14/18
DBAB
06/14/18
INITIATION
Target $155
DBAB
Hold
Spotify initiated with a Hold at Deutsche Bank
Deutsche Bank started Spotify with a Hold rating and $155 price target.
NFLX Netflix
$379.86

16.07 (4.42%)

06/01/18
RBCM
06/01/18
NO CHANGE
Target $360
RBCM
Outperform
RBC Capital backs Outperform rating on Netflix post U.S., international surveys
RBC Capital analyst Mark Mahaney reiterated an Outperform rating and $360 price target on Netflix (NFLX) shares following "positive" results from surveys in the U.S., France and German that found higher satisfaction trends, a rising willingness to pay for streaming content and high penetration levels. In the U.S., Mahaney noted that the survey found 55% of respondents watch Netflix, a significant lead over YouTube (GOOGL), Amazon (AMZN) and Hulu (DIS, CMCSA, TWX), adding that while Amazon is showing the fastest penetration growth among Streaming services, three years of data show that Prime customers are "more likely to also subscribe to Netflix." He views Netflix as one of the best derivatives off the strong growth in online video viewing and in Internet connect devices.
05/29/18
MKMP
05/29/18
NO CHANGE
Target $390
MKMP
Buy
Netflix price target raised to $390 from $320 at MKM Partners
MKM Partners analyst Rob Sanderson raised his price target on Netflix to $390, saying the stock remains his "top pick" despite its outsized price appreciation based on his expectations of subscriber growth. The analyst further notes that Netflix "has among the very best fundamentals" among the internet megacaps, adding that if its subscriber momentum growth persists at a similar trajectory, its annual return power could top the current 15% assumption with a rate of as high as 24% per year. Sanderson also notes that more earnings gains could come from the moderating content budget spending, keeping his Buy rating on the stock.
06/13/18
MSCO
06/13/18
NO CHANGE
MSCO
Morgan Stanley says AT&T ruling may help narrow public/private media value gap
Morgan Stanley analyst Benjamin Swinburne said the court approval of AT&T's (T) acquisition of Time Warner (TWX) without conditions recognized the reality of new competition in the form of content investments from players such as Netflix (NFLX), Google's (GOOGL) YouTube, Amazon (AMZN), Apple (AAPL) and Facebook (FB). This ruling sends a "clear message to other industry players" and market uncertainty on deal prospects could fall, which could mean that equity values will likely rise accordingly, Swinburne tells investors. He notes there remains a large gap, which may now narrow, between private market valuations and public multiples in many parts of media and cable, pointing to Discovery Inc. (DISCK) as an example illustrating that point.
06/13/18
GSCO
06/13/18
NO CHANGE
Target $490
GSCO
Buy
Netflix higher after Goldman boosts price target to $490 from $390
Shares of Netflix are moving higher after Goldman Sachs analyst Heath Terry this morning boosted his price target on the shares to $490 from $390. The streaming service in early trading is up nearly 2%, or $6.34, to $370.17. The analyst, whose new price target is high on the Street, sees the stock benefiting as Netflix's cash flow inflects positively in the coming years. Terry believes 2018 will mark the negative cash flow peak for Netflix. The company's revenue growth will begin to outpace content spend growth in 2019, Terry predicts. The analyst keeps a Buy rating on the shares.
VIVHY Vivendi
$0.00

(0.00%)

06/23/17
RAJA
06/23/17
UPGRADE
RAJA
Outperform
Vivendi upgraded to Outperform from Market Perform at Raymond James
11/13/17
JPMS
11/13/17
UPGRADE
JPMS
Overweight
Vivendi upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Marcus Diebel upgraded Vivendi to Overweight and raised his price target for the shares to EUR 40 from EUR 19.

TODAY'S FREE FLY STORIES

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MSFT

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, GOOGL

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$54.99

0.23 (0.42%)

, MS

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$51.17

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Ford

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PAY

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ARGX

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PTC

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WMGI

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