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NFLX

Netflix

$339.69

18.41 (5.73%)

08:02
10/15/18
10/15
08:02
10/15/18
08:02

Netflix price target lowered to $430 form $470 at Goldman Sachs

Goldman Sachs analyst Heath Terry lowered his price target for Netflix to $430 from $470 ahead of Q3 results to reflect the contraction in broader internet multiples. While 3rd party data has most investors anticipating net subscriber additions beyond management's July guidance, the analyst believes that has been balanced by expectations for more conservative Q4 guidance. Terry thinks upside to consensus expectations and what the strength in subscriber net additions says about Netflix's business, beyond just guidance for the next quarter, is likely to be a positive catalyst for the stock. Longer term, he continues to believe consensus forecasts significantly underestimate Netflix's future growth given its content, distribution and data advantages, the early stage growth opportunities left in most of its markets, and 2019's cash burn inflection. He reiterates a Buy rating on the shares.

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NFLX Netflix
$339.69

18.41 (5.73%)

10/12/18
10/12/18
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. MICROSOFT UPGRADED TO OUTPERFORM AFTER PULLBACK: Macquarie analyst Sarah Hindlian upgraded Microsoft (MSFT) to Outperform from Neutral and raised her price target on the shares to $121, saying she is taking advantage of the pullback in shares. Hindlian views Microsoft as a relatively defensive name with long-term earnings power and expects a strong start to FY19 following constructive field work. CITI UPGRADES NETFLIX TO BUY: Citi analyst Mark May upgraded Netflix (NFLX) to Buy from Neutral with an unchanged price target of $375. The valuation, following this week's selloff, has reached a level that warrants an "opportunistic" upgrade to Buy, May said. Netflix has a highly recurring subscription-based revenue business that delivers "significant value" to consumers, and its management team has a strong track record of execution, the analyst contended. Further, he believes the company's fundamentals remain strong and that is has opportunity to continue growing international subscribers. SQUARE UPGRADED TO BUY AFTER PULLBACK: Canaccord Genuity analyst Michael Graham upgraded Square (SQ) to Buy from Hold and raised his price target for the shares to $90 from $60. The recent pullback in the shares creates a long-term opportunity in a "truly disruptive and well-run company," Graham said. He believes the departure of CFO Sarah Friar is more about going to a promising company as CEO rather than walking away from a risk. PIVOTAL UPGRADES SNAP TO BUY: Pivotal Research analyst Brian Wieser upgraded Snap (SNAP) to Buy from Hold while lowering his price target for the shares to $8 from $9. The analyst said that despite declining usage and liquidity, the data he looks at is showing a "widening user base, although one which is collectively reducing its time on the platform." It is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends, Wieser added. Further, the analyst believes Snap could become an attractive candidate to go private with the stock's price at current levels. JPMORGAN DOWNGRADES ESTEE LAUDER TO NEUTRAL: JPMorgan analyst Andrea Teixeira downgraded Estee Lauder (EL) to Neutral and lowered her price target for the shares to $138 from $154. There may be a deceleration in the travel retail channel ahead now that Chinese customs agents are implementing tighter controls at the border, according to local source, Teixeira noted. Further, she believes the de-rating in luxury peers related to the group's "outsized exposure" to Chinese consumers will likely put a cap on Estee Lauder's valuation as well. The analyst also sees less opportunity for earnings beats on margins in the near term given tariff costs.
10/12/18
10/12/18
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. Microsoft (MSFT) upgraded to Outperform from Neutral at Macquarie with analyst Sarah Hindlian saying she is taking advantage of the pullback in shares. 2. Netflix (NFLX) upgraded to Buy from Neutral at Citi with analyst Mark May saying the valuation, following this week's selloff, has reached a level that warrants an "opportunistic" upgrade to Buy. 3. Square (SQ) upgraded to Buy from Hold at Canaccord with analyst Michael Graham saying the recent pullback in the shares creates a long-term opportunity in a "truly disruptive and well-run company." 4. Snap (SNAP) upgraded to Buy from Hold at Pivotal Research with analyst Brian Wieser saying despite declining usage and liquidity, the data he looks at is showing a "widening user base, although one which is collectively reducing its time on the platform." 5. Costco (COST) upgraded to Buy from Neutral at Northcoast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/12/18
MKMP
10/12/18
NO CHANGE
Target $395
MKMP
Buy
Netflix set-up attractive ahead of earnings, says MKM Partners
MKM Partners analyst Rob Sanderson kept his Buy rating and $395 price target on Netflix ahead of its earnings next week, saying that after a "meaningful" pullback in its price from the broader market volatility, the stock looks "attractive again". The analyst cites the company's "solid looking performance from the content slate", along with its new content coming and conservative looking expectations relative to its historic seasonality. Sanderson anticipates that Netflix will have many years of market cap appreciation ahead and views its fundamentals "among the best of the mega-caps".
10/12/18
WEDB
10/12/18
NO CHANGE
Target $125
WEDB
Underperform
Netflix's valuation 'unwarranted,' says Wedbush
Wedbush analyst Michael Pachter reiterated an Underperform rating and $125 price target on Netflix ahead of the company's quarterly results, telling investors in a research note that he believes Netflix's valuation is unwarranted and that consistently negative free cash flow makes discounted cash flow valuation "impossible." Pachter says he expects content spending to trigger "substantial" cash burn for many years, and believes international profits may remain "elusive" due to competition for content and subscribers, with future price increases potentially causing a deceleration in subscriber growth.

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Boeing

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Humana

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COP

ConocoPhillips

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-0.55 (-1.01%)

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AMZN

Amazon.com

$1,757.77

-30.07 (-1.68%)

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Netflix

$275.40

-17.88 (-6.10%)

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NFLX

Netflix

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Comcast

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Comcast

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Disney

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AKS

AK Steel

$2.45

0.055 (2.30%)

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ArcelorMittal

$14.58

0.03 (0.21%)

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On The Fly
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ArcelorMittal

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NUE

Nucor

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STLD

Steel Dynamics

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TMST

TimkenSteel

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U.S. Steel

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GM

General Motors

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Conference/Events
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Banco Bilbao

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BlackRock

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Citi

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Goldman Sachs

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JPMorgan

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MasterCard

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Zurich Insurance

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STT

State Street

$63.40

3.69 (6.18%)

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SUN

Sunoco

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0.32 (1.00%)

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TLF

Tandy Leather

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Tandy Leather CFO Castillo to step down »

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Tandy Leather

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AAPL

Apple

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JPMorgan

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eBay

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Booking Holdings

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GLD

SPDR Gold Shares

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TECK

Teck Resources

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OSK

Oshkosh

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OVLY

Oak Valley Bancorp

$16.40

-0.16 (-0.97%)

17:35
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FTNW

FTE Networks

$0.79

-0.0185 (-2.29%)

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TNXP

Tonix Pharmaceuticals

$0.45

0.0048 (1.07%)

17:12
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17:12
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Breaking Syndicate news story on Tonix Pharmaceuticals »

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RLMD

Relmada Therapeutics

$20.18

1.07 (5.60%)

17:10
10/18/19
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17:10
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Breaking Syndicate news story on Relmada Therapeutics »

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Breaking General news story  »

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NWSA

News Corp.

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-0.19 (-1.39%)

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News Corp

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News Corp.

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News Corp

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FB

Facebook

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New York Times

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WAIR

Wesco Aircraft

$11.01

0.01 (0.09%)

16:46
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10/18
16:46
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16:46
Conference/Events
Wesco Aircraft to host special shareholder meeting »

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FOMX

Foamix

$3.15

-0.09 (-2.78%)

16:41
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16:41
Hot Stocks
Breaking Hot Stocks news story on Foamix »

Foamix up 7.5% at $3.35…

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