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NFLX

Netflix

$375.16

-4.34 (-1.14%)

08:38
07/19/18
07/19
08:38
07/19/18
08:38

Netflix streaming liabilities to become more costly, says Loop Capital

Loop Capital analyst Alan Gould kept his Hold rating and $365 price target on Netflix after its Q2 results, noting that the increase in content in development costs has resulted in the "bulk of the negative free cash flows for the quarter". Gould adds that the increase in streaming liabilities will switch its contribution to "use of cash" from "source of cash", as the costs associated with content from outside parties "will remain in the $13-14 billion range over the next few years, which implies the payment of past liabilities should become greater than the buildup of new liabilities."

NFLX Netflix
$375.16

-4.34 (-1.14%)

07/17/18
07/17/18
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 Hold at Stifel and to Outperform from Market Perform at BMO Capital. 2. Wolverine World Wide (WWW) upgraded to Strong Buy from Buy at CL King. 3. Fidelity National (FNF) and First American (FAF) upgraded to Outperform from Market Perform at Keefe Bruyette. 4. Bloomin' Brands (BLMN) upgraded to Outperform from Market Perform at Raymond James with analyst Brian Vaccaro saying the 20% decline in shares since early May reflects reduced expectations related to Brazil and provides an attractive entry point given his outlook for strong U.S. Outback comps. 5. Restaurant Brands (QSR) upgraded to Outperform from Market Perform at Cowen with analyst Andrew Charles saying he believes Tim Horton sales have bottomed and cited upcoming drivers such as its debt capacity that could be used for M&A and expectations for unit growth to outpace consensus. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/18
07/17/18
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. Netflix (NFLX) downgraded to Hold from Buy at Deutsche Bank with analyst Bryan Kraft saying the "slowdown in growth" reported in the Q2 results is not "thesis changing," but does require a "reevaluation of value." 2. Waters (WAT) downgraded to Neutral from Buy at Janney Montgomery Scott with analyst Paul Knight saying he sees acceleration elsewhere in Life Science Tools and believes that Waters' expected growth of 5-6% over the next year or more gives the stock limited upside potential. 3. Intel (INTC) downgraded to In Line from Outperform at Evercore ISI with analyst C.J. Muse saying Data Center cost reductions are now fully reflected and expects the focus to be on what Data Center growth will be like in FY19 following elevated 2018 levels. 4. Hormel Foods (HRL) downgraded to Equal Weight on valuation at Stephens with analyst Farha Aslam citing valuation and maintained a $38 price target on shares. 5. CubeSmart (CUBE) downgraded to Hold from Buy at Jefferies with analyst George Hoglund saying he is cautious on new supply risks and believes the stock's valuation is approaching full value. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/18
07/17/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. ANALYSTS SPLIT ON NETFLIX AFTER EARNINGS: Despite continuing to like Netflix's story, Deutsche Bank analyst Bryan Kraft downgraded Netflix (NFLX) to Hold from Buy as he believes that the "slowdown in growth" requires a "reevaluation of value." Meanwhile, both BMO Capital and Stifel upgraded the stock to Buy-equivalent ratings as they see the post-earnings weakness in the shares as a buying opportunity. BMO analyst Daniel Salmon raised Netflix to Outperform, with a $400 price target, saying the decline in the stock price following quarterly results offers investors an attractive level to build positions. Stifel also upgraded Netflix to Buy from Hold, with a $406 price target. Analyst Scott Devitt cited the potential for near-term subscription add expectations to reset, a strong second half of the year content slate, and a domestic and international runway, which supports a doubling of the company's subscriber base in the next five to ten years. STEPHENS SEES OPPORTUNITY IN TRIBUNE SELLOFF: Stephens analyst Kyle Evans upgraded Tribune Media (TRCO) to Overweight from Equal Weight while lowering his price target for the shares to $41 from $45. Statements from the FCC and reports by Reuters on Monday created investor concern around whether Sinclair Broadcast (SBGI) will be able to close its proposed acquisition of Tribune, Evans told investors. The analyst said he believes the FCC will allow Sinclair to remedy its concerns about proposed divestiture buyers and that Sinclair will comply with all requirements in an effort to close the deal. He believes a combination of the two companies "remains the best possible outcome for both parties." GOLDMAN SACHS DOWNGRADES MACHINERY MAKERS: Goldman Sachs analyst Jerry Revich downgraded Manitowoc (MTW) to Sell from Neutral and lowered his price target to $22 from $30 as part of his broader note on the machinery cycle. The analyst also downgraded Generac (GNRC) to Sell from Neutral with an unchanged price target of $45 and removed Caterpillar (CAT) and Deere (DE) from the firm's Conviction Buy lists. GOLDMAN ALSO DOWNGRADES GOODYEAR: Goldman Sachs analyst David Tamberrino downgraded Goodyear Tire & Rubber (GT) to Sell from Neutral and lowered his price target for the shares to $18 from $25. The analyst said he sees the "tough backdrop" for the company continuing amid raw material price increases. Further, Goodyear's pricing power "remains elusive," Tamberrino told investors in a research note.
07/17/18
BTIG
07/17/18
NO CHANGE
Target $420
BTIG
Buy
Netflix price target raised to $420 from $330 at BTIG
BTIG analyst Rich Greenfield, in a note to investors partially titled "Deja Vu All Over Again...Again," noted that Netflix reported disappointing subscriber growth relative to guidance two years ago, in Q2 2016, and then subsequently significantly outperformed Q3 2016 guidance and consensus. While the latest subscriber miss is "certainly disappointing," Greenfield believes that Netflix's tailwinds are gaining strength and he has increased confidence in its future subscriber and earnings growth, he tells investors. He has raised his estimates for 2018 and two following years, leading him to increase his price target on the stock to $420 from $330. Greenfield keeps a Buy rating on Netflix shares.

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SE

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SNE

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CRMT

America's Car-Mart

$101.76

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JCOM

j2 Global

$87.23

0.75 (0.87%)

18:25
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j2 Global CFO sells 5.6K shares of common stock »

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NVS

Novartis

$82.38

0.36 (0.44%)

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EADSY

Airbus

$0.00

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AGRO

Adecogro

$6.50

0.07 (1.09%)

18:19
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Adecogro reports Q1 adjusted EBITDA $58.3M, down 5.9% from last year »

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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

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$1,154.26

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HAIN

Hain Celestial

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NTDOY

Nintendo

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URBN

Urban Outfitters

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GLD

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Ascent Capital

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TRS

TriMas

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SUNW

Sunworks

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GVA

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OMC

Omnicom

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TTEC

TTEC Holdings

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TDW

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PTCT

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