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NFLX

Netflix

$337.61

12.84 (3.95%)

08:33
01/14/19
01/14
08:33
01/14/19
08:33

Netflix cash burn to continue to grow, says Wedbush

Wedbush analyst Michael Pachter reiterates an Underperform rating and $150 price target on Netflix's shares ahead of quarterly results. The analyst expects content spending to trigger substantial cash burn for many years. Notwithstanding three Netflix price increases in the last five years, cash burn continues to grow, he notes. Further, Pachter believes international profits may remain elusive due to competition for content and subscriptions, and future content migration could cause a deceleration in subscriber growth. Consistently negative free cash flow makes DCF valuation impossible, he contends.

NFLX Netflix
$337.61

12.84 (3.95%)

01/11/19
RAJA
01/11/19
UPGRADE
Target $450
RAJA
Strong Buy
Raymond James upgrades Netflix to Strong Buy, sees material profitability ahead
As previously reported, Raymond James analyst Justin Patterson upgraded Netflix to Strong Buy from Outperform and raised his price target on the stock to $450 from $435. Netflix is approaching a profit inflection, as the company's front-loaded headcount investments will be leveraged and lead to an operating margin inflection, contends Patterson. His survey work shows Netflix's traction in film is helping it gain share against linear TV and he sees meaningful potential for Netflix to succeed in film, which Patterson believes should aid subscriber growth, retention and pricing power, he added. Last night, UBS analyst Eric Sheridan also upgraded Netflix to Buy from Neutral and raised his price target for the shares to $410 from $400.
01/11/19
01/11/19
UPGRADE

Fly Intel: 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 UBS, with analyst Eric Sheridan saying that after six months of stock underperformance as key debates emerged about competition, margins and free cash flow, the debates are better understood by investors and reflected in the current stock price. The analyst sees share upside over the near-to-medium term to subscriber growth. Current subscriber metrics such as growth, churn, spend and consumption are tracking inline to better than management's Q4 guidance and commentary. Shares were also upgraded to Strong Buy from Outperform at Raymond James. 2. Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill, with analyst Michael Carrier saying flows are holding up better than peers, management is de-leveraging the balance sheet, and expects potential efficiency measures and product approvals to be announced. 3. Viacom (VIAB) upgraded to Outperform from In-Line at Imperial Capital by analyst David Miller, who said now is the time to get constructive given the stock's 13.5% correction over the past 12 weeks. The analyst added that while Viacom's fiscal 2019 film slate does not impress him, its slate for fiscal 2020 looks more promising, highlighted by Gemini Man, G.I. Joe, another Spongebob film, Top Gun, with Tom Cruise reprising his role from the 1986 classic. 4. Colgate-Palmolive (CL) upgraded to Buy from Neutral at Goldman Sachs, with analyst Jason English saying he expects a combination of accelerating organic sales and easing input cost pressures to drive higher profitability. Colgate-Palmolive's valuation will return to the historical premium "that it has enjoyed relative to the HPC sector once its organic sales re-accelerate," he said. 5. Tapestry (TPR) upgraded to Overweight from Equal Weight and Ralph Lauren (RL) upgraded to Equal Weight from Underweight at Barclays by analyst Chethan Mallela. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/14/19
JPMS
01/14/19
NO CHANGE
Target $425
JPMS
Overweight
JPMorgan trims Netflix target to $425, sees 'more difficult' setup into Q4
JPMorgan analyst Doug Anmuth lowered his price target for Netflix to $425 from $450 while keeping an Overweight rating on the shares ahead of the company's Q4 results on January 17. Netflix shares are down 3% since its Q3 earnings report, outperforming the S&P 500 Index's down 8%, though with significant volatility as shares traded down as much as 32% intra-quarter before rallying 44% since December 24, Anmuth tells investors in a pre-earnings research note. The analyst believes investor sentiment has "turned positive very quickly," making Netflix's Q4 earnings setup "more difficult." However, he remains positive on the shares into the earnings print as he believes the company's content performed well and likely exceeded management expectations. Further, Anmuth believes Q1 net subscriber addition expectations for Netflix are reasonable.
01/14/19
WEDB
01/14/19
NO CHANGE
Target $200
WEDB
Outperform
China price cuts, content M&A to lay groundwork for Apple's future, says Wedbush
Wedbush analyst Daniel Ives believes Apple (AAPL) needs to aggressively cut prices in China on XR and pull forward what he estimates is roughly 15M-20M iPhones that would otherwise sit idle waiting for the next release, or worst case, move to lower priced competition. Additionally, with services the linchpin of the Apple story moving forward, there needs to be serious contemplation within Cupertino around significant content acquisitions to drive services over the coming years, he contends. Ives sees A24, Lionsgate (LGF.A; LGF.B), and Sony Pictures (SNE) among the highest probability M&A targets, Viacom (VIA;VIAB)/CBS(CBS), and MGM Studios among the medium probability M&A targets, and Netflix (NFLX), Disney (DIS), and Gaming platform/video game publishers among the low probability M&A targets. The analyst reiterates an Outperform rating and $200 price target on Apple shares.

TODAY'S FREE FLY STORIES

TCEHY

Tencent

$0.00

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BAESY

BAE Systems

$0.00

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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

, COST

Costco

$213.59

2.15 (1.02%)

12:50
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AMZN

Amazon.com

$1,696.01

4.01 (0.24%)

COST

Costco

$213.59

2.15 (1.02%)

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VNO

Vornado

$66.40

1.04 (1.59%)

, KRC

Kilroy Realty

$68.23

0.21 (0.31%)

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Kilroy, Vornado Realty have 'solid' prospects, Barron's says »

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VNO

Vornado

$66.40

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KRC

Kilroy Realty

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  • 05

    Feb

GOLD

Barrick Gold

$11.78

-0.11 (-0.93%)

, GG

Goldcorp

$10.37

0.04 (0.39%)

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GOLD

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GG

Goldcorp

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NEM

Newmont Mining

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TECH

Bio-Techne

$163.24

1.16 (0.72%)

, A

Agilent

$71.93

1.16 (1.64%)

12:29
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TECH

Bio-Techne

$163.24

1.16 (0.72%)

A

Agilent

$71.93

1.16 (1.64%)

DHR

Danaher

$107.43

1.88 (1.78%)

TMO

Thermo Fisher

$240.72

2.55 (1.07%)

ILMN

Illumina

$312.66

2.53 (0.82%)

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ATVI

Activision Blizzard

$48.64

1.26 (2.66%)

, EA

Electronic Arts

$92.50

3.19 (3.57%)

12:22
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Periodicals
EA, Activision struggling to survive a Fortnite World, Barron's says »

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ATVI

Activision Blizzard

$48.64

1.26 (2.66%)

EA

Electronic Arts

$92.50

3.19 (3.57%)

NFLX

Netflix

$339.20

-14.02 (-3.97%)

03/08/13
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AIMT

Aimmune

$22.90

0.26 (1.15%)

, CELG

Celgene

$86.27

-0.32 (-0.37%)

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AIMT

Aimmune

$22.90

0.26 (1.15%)

CELG

Celgene

$86.27

-0.32 (-0.37%)

BIIB

Biogen

$337.46

-0.93 (-0.27%)

CMRE

Costamare

$4.97

0.09 (1.84%)

DAC

Danaos

$0.90

0.05 (5.88%)

DCIX

Diana Containerships

$0.90

-0.02 (-2.17%)

TGH

Textainer

$13.34

0.57 (4.46%)

NM

Navios Maritime

$2.73

-0.04 (-1.44%)

YRCM

Rogers Cantel

$0.00

(0.00%)

EXPD

Expeditors

$69.34

1.43 (2.11%)

LEN

Lennar

$44.11

-0.64 (-1.43%)

KBH

KB Home

$20.30

-0.28 (-1.36%)

PHM

PulteGroup

$26.58

-0.27 (-1.01%)

Z

Zillow

$33.93

0.35 (1.04%)

ZG

Zillow

$33.74

0.35 (1.05%)

RLGY

Realogy

$18.27

-0.155 (-0.84%)

RDFN

Redfin

$18.49

0.48 (2.67%)

DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$16.78

0.16 (0.96%)

F

Ford

$8.59

0.23 (2.75%)

GM

General Motors

$38.63

0.35 (0.91%)

HMC

Honda

$29.77

0.22 (0.74%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$125.40

0.505 (0.40%)

VLKAY

Volkswagen

$0.00

(0.00%)

VC

Visteon

$76.43

4.85 (6.78%)

ADNT

Adient

$19.78

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AXL

American Axle

$14.62

0.45 (3.18%)

DLPH

Delphi Technologies

$15.94

0.44 (2.84%)

APTV

Aptiv

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BWA

BorgWarner

$40.60

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LEA

Lear

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TEN

Tenneco

$34.61

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MGA

Magna

$50.91

0.78 (1.56%)

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    Oct

ASLN

Aslan Pharmaceuticals

$3.55

(0.00%)

, FPRX

Five Prime

$11.20

0.53 (4.97%)

04:55
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Conference/Events
American Society of Clinical Oncology to hold a symposium »

ASCO GI 2019 Symposium…

ASLN

Aslan Pharmaceuticals

$3.55

(0.00%)

FPRX

Five Prime

$11.20

0.53 (4.97%)

KURA

Kura Oncology

$15.70

-0.06 (-0.38%)

ZLAB

Zai Lab

$25.98

-0.05 (-0.19%)

03/08/13
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04:55
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04:55
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Deutsche Bank to hold a conference »

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TCCO

Technical Comm Corp

$2.61

-0.19 (-6.79%)

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Technical Comm Corp reports notice of failure to satisfy Nasdaq rule »

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SNAP

Snap

$6.19

0.455 (7.93%)

17:38
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Snap exec fired due to undisclosed relationship with consultant, Cheddar says »

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SSW

Seaspan

$9.16

0.16 (1.78%)

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TXT

Textron

$49.38

0.75 (1.54%)

17:30
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Textron subsidiary awarded $439.56M government contract modification »

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  • 24

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TAC

TransAlta

$4.91

0.04 (0.82%)

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Mangrove Partners reports 9.4% passive stake in TransAlta »

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TDS

Telephone and Data

$36.27

0.42 (1.17%)

17:27
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Telephone and Data's Meyers sells 80,465 common shares »

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GWPH

GW Pharmaceuticals

$137.24

2.59 (1.92%)

17:03
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Breaking Syndicate news story on GW Pharmaceuticals »

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FCSC

Fibrocell Science

$2.03

0.03 (1.50%)

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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

, ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

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EnLink Midstream Partners to hold a special shareholder meeting »

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ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

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FDX

FedEx

$176.97

3.72 (2.15%)

16:49
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ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

, ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

16:48
01/18/19
01/18
16:48
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16:48
Conference/Events
EnLink Midstream Companies to hold a special shareholder meeting »

Special Shareholder…

ENLK

EnLink Midstream Partners

$13.58

0.51 (3.90%)

ENLC

EnLink Midstream

$11.75

0.4 (3.52%)

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MKL

Markel

$1,067.03

13.52 (1.28%)

16:36
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NILSY

Norilsk Nickel

$0.00

(0.00%)

16:35
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01/18
16:35
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16:35
Downgrade
Norilsk Nickel rating change at Goldman Sachs »

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JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

, ABBV

AbbVie

$89.51

2.28 (2.61%)

16:33
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AbbVie: Phase 3 study of ibrutinib did not meet primary endpoint »

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JNJ

Johnson & Johnson

$130.65

1.54 (1.19%)

ABBV

AbbVie

$89.51

2.28 (2.61%)

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FOMX

Foamix

$3.70

-0.14 (-3.65%)

16:32
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Conference/Events
Foamix to host research and development day »

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