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NFLX

Netflix

$389.51

9.65 (2.54%)

, T

AT&T

$32.62

0.4 (1.24%)

11:34
06/14/18
06/14
11:34
06/14/18
11:34

Citron sees Netflix facing rising competition, predicts pullback to $340

In a new report published by Citron Research, Andrew Left predicts that Netflix (NFLX) will "dip back to $340 near term," citing the rising risks it faces from competition in media, including the soon-to-be-combined AT&T (T) and Time Warner (TWX). Following Citron's report, Netflix shares remain up $9.11, or 2.4%, at about $389 per share in late morning trading. Reference Link

NFLX

Netflix

$389.51

9.65 (2.54%)

T

AT&T

$32.62

0.4 (1.24%)

TWX

Acquired by T

$99.13

1.28 (1.31%)

NFLX Netflix
$389.51

9.65 (2.54%)

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.
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.
06/14/18
DBAB
06/14/18
INITIATION
Target $155
DBAB
Hold
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.
T AT&T
$32.62

0.4 (1.24%)

06/13/18
06/13/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Square (SQ) downgraded to Neutral from Buy at Buckingham with analyst Chris Brendler saying he is taking a "breather" following the year-to-date share outperformance but raised his price target to $65 from $55. 2. Yelp (YELP) downgraded to Sell from Hold at Aegis. 3. AT&T (T) was downgraded to Sell from Neutral at MoffettNathanson while Time Warner (TWX) was downgraded to Neutral from Buy at the firm. Time Warner was also downgraded to Market Perform from Outperform at Barrington. 4. Comcast (CMCSA) downgraded to Market Perform from Outperform at Raymond James. 5. Advaxis (ADXS) downgraded to Hold from Buy at Jefferies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/13/18
OPCO
06/13/18
UPGRADE
OPCO
Outperform
AT&T upgraded to Outperform from Perform at Oppenheimer
06/13/18
06/13/18
UPGRADE
Target $41

Outperform
AT&T upgraded to Outperform on 'game changing' Time Warner deal at Oppenheimer
As previously reported, Oppenheimer analyst Timothy Horan upgraded AT&T (T) to Outperform from Perform, contending that the company's deal to buy Time Warner (TWX) is a "game-changer" that positions it as a "content powerhouse." The merger should be 15% accretive to free cash flow per share in FY21 based on his "conservative" estimates, Horan added. Horan also noted that historically, after underperforming through the regulatory process, AT&T shares trades up about 25% in the year following a merger. The analyst set a $41 price target on AT&T shares.
06/13/18
LOOP
06/13/18
DOWNGRADE
Target $100
LOOP
Hold
Time Warner downgraded to Hold from Buy at Loop Capital
Loop Capital analyst Alan Gould downgraded Time Warner (TWX) to Hold from Buy and lowered his price target to $100 from $107.50 after the affirmative federal judge ruling on AT&T (T) bid. Gould says he expects the merger to close by June 20th, and also recommends that investors shift their holdings to CBS (CBS), which may be the next attractive acquisition target in the industry.
TWX Acquired by T
$99.13

1.28 (1.31%)

TODAY'S FREE FLY STORIES

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Senate Banking, Housing & Urban Affairs Committee to hold a hearing »

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Unusually active option classes on open December 11th »

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IntelGenx

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09:39
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AAPL

Apple

$169.61

1.24 (0.74%)

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MU

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Recommendations
Micron, Intel, Western Digital, Nvidia, AMD analyst commentary  »

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MU

Micron

$34.80

-0.51 (-1.44%)

INTC

Intel

$47.21

0.98 (2.12%)

WDC

Western Digital

$41.67

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NVDA

Nvidia

$151.98

4.44 (3.01%)

AMD

AMD

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CZZ

Cosan

$8.37

-0.14 (-1.65%)

09:35
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09:35
Downgrade
Cosan rating change  »

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AMD

AMD

$19.98

0.53 (2.72%)

09:34
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09:34
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Technical Take: AMD outperforms, analyst action »

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ITUB

Itau Unibanco

$8.80

-0.275 (-3.03%)

09:34
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09:34
Downgrade
Itau Unibanco rating change  »

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BSBR

Santander Brasil

$10.87

-0.3 (-2.69%)

09:34
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Downgrade
Santander Brasil rating change  »

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BBD

Banco Bradesco

$9.43

-0.23 (-2.38%)

09:32
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09:32
Downgrade
Banco Bradesco rating change  »

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AAPL

Apple

$169.61

1.24 (0.74%)

, GOOG

Alphabet

$1,040.02

3.5 (0.34%)

09:29
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12/11
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09:29
Periodicals
Apple launches mobile payments service in Germany, Reuters reports »

Apple (AAPL) launched its…

AAPL

Apple

$169.61

1.24 (0.74%)

GOOG

Alphabet

$1,040.02

3.5 (0.34%)

GOOGL

Alphabet Class A

$1,052.80

5.81 (0.55%)

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TBPH

Theravance Biopharma

$27.00

0.18 (0.67%)

09:28
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09:28
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09:28
Conference/Events
Theravance Biopharma to host research and development day »

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  • 12

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ZEN

Zendesk

$58.62

0.21 (0.36%)

09:27
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09:27
Conference/Events
Zendesk management to meet with William Blair »

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KAR

KAR Auction

$50.43

-0.61 (-1.20%)

09:26
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Conference/Events
KAR Auction management to meet with Stephens »

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AXP

American Express

$105.82

-0.905 (-0.85%)

09:25
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09:25
Conference/Events
American Express management to meet with William Blair »

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CVS

CVS Health

$73.34

-0.75 (-1.01%)

, AET

Aetna

$0.00

(0.00%)

09:25
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Recommendations
CVS Health, Aetna, Amazon.com analyst commentary  »

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CVS

CVS Health

$73.34

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AET

Aetna

$0.00

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AMZN

Amazon.com

$1,640.37

11.18 (0.69%)

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STNG

Scorpio Tankers

$2.05

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09:25
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Conference/Events
Scorpio Tankers to host an analyst and investor day »

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ZION

Zions Bancorp

$44.25

-0.86 (-1.91%)

09:24
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NKE

Nike

$72.50

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DX

Dynex Capital

$5.95

-0.06 (-1.00%)

09:23
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Dynex Capital to pay common dividend distributions monthly starting in 2019 »

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TSLA

Tesla

$365.20

7.355 (2.06%)

09:23
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