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NFLX

Netflix

$354.32

5.44 (1.56%)

, DIS

Disney

$130.15

-1.87 (-1.42%)

05:26
04/17/19
04/17
05:26
04/17/19
05:26

Netflix Q2 guidance mixed on limited new content, says Piper Jaffray

Netflix (NFLX) last night reported upside for Q1 and provided a mixed Q2 outlook, Piper Jaffray analyst Michael Olson tells investors in a research note. Most importantly, says the analyst, is that international subscriber additions were ahead of expectations for the quarter and essentially in-line for the Q2 guide. For domestic subscribes, Q1 was also ahead of consensus, but Q2 domestic sub guidance is below the Street, adds Olson. He believes Netflix's Q2 is "light on new content" but that its slate "appears strong" for the second half of 2019. Further, despite new services on the horizon from Disney (DIS) and Apple (AAPL), the analyst expects "minimal impact" to Netflix subscriber additions and retention. Olson thinks Netflix will "continue to capture a significant portion of traditional content dollars as they migrate to streaming." The analyst reiterates an Overweight rating on Netflix shares with a $440 price target.

NFLX

Netflix

$354.32

5.44 (1.56%)

DIS

Disney

$130.15

-1.87 (-1.42%)

AAPL

Apple

$199.00

-0.21 (-0.11%)

  • 30

    Apr

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    May

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    Jun

NFLX Netflix
$354.32

5.44 (1.56%)

04/16/19
04/16/19
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 Hold at Deutsche Bank with analyst Bryan Kraft saying consensus subscriber expectations for both 2019 and 2020 now seem conservative. 2. Cenovus Energy (CVE) upgraded to Neutral from Sell at Goldman Sachs with analyst Neil Mehta citing improvements to the company's leverage outlook and a more constructive commodity price environment, particularly for Canadian heavy crude. 3. Cummins (CMI) upgraded to Buy from Neutral at Citi with analyst Timothy Thein saying he sees upside to 2019 estimates and thinks the company's out-year cash flows "stay higher for longer based on end market diversity and increasing contribution from the aftermarket." 4. Western Digital (WDC) upgraded to Buy from Hold at Deutsche Bank with analyst Sidney Ho starting to see favorable data points in both hard disk drive and NAND that will support a "solid" second half of the year recovery for Western Digital's earnings. 5. e.l.f. Beauty (ELF) upgraded to Buy from Neutral at DA Davidson with analyst Linda Bolton Weiser citing the findings of her proprietary store checks suggesting that the company products have seen a 17% increase in shelf space at Target (TGT), overtaking Coty's (COTY) Covergirl brand, while its Q1 sales "inflected from down high-single digits" in Q4 to low-single digits. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/19
BMOC
04/16/19
NO CHANGE
Target $470
BMOC
Outperform
Netflix price target raised to $470 from $440 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Netflix (NFLX) to $470 and kept his Outperform rating ahead of its Q1 earnings today, saying he expects "strong results" from the company. The analyst bases his price target change on his rolled out estimates for 2021-2028 and believes that Netflix still has "room to grow" internationally - particularly in India and Japan - while improving its per subscriber leverage on content spend and generating "steady growth of its consumer product licensing revenues." Salmon also believes that while Netflix remains the clear leader in global streaming, Amazon (AMZN) and Disney (DIS) can also be "long-term winners" in the sector.
04/16/19
DBAB
04/16/19
UPGRADE
Target $400
DBAB
Buy
Deutsche Bank upgrades Netflix to Buy, sees $400 stock in 12 months
Deutsche Bank analyst Bryan Kraft upgraded Netflix to Buy from Hold and raised his price target for the shares to $400 from $360. The streaming service, which reports Q1 results after the bell tonight, closed yesterday down $2.27 to $348.87. Consensus subscriber expectations for both 2019 and 2020 now seem conservative, Kraft tells investors in a research note. Further, Netflix shares have "de-rated enough," which makes the risk/reward profile attractive, adds the analyst. He sees the company's growth in revenue taking the stock to $400 over the next 12 months as the valuation shifts from 2019 to 2020 estimates. Netflix is winning the battle for talent and "looking more and more like a platform every day, rather than just an application," according to Kraft.
04/16/19
DBAB
04/16/19
UPGRADE
DBAB
Buy
Netflix upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Bryan Kraft upgraded Netflix to Buy from Hold ahead of tonight's Q1 results.
DIS Disney
$130.15

-1.87 (-1.42%)

04/15/19
04/15/19
UPGRADE

Neutral
Disney upgraded to Neutral at BTIG on strategy shift
As previously reported, BTIG analyst Richard Greenfield upgraded Disney to Neutral from Sell, saying the rating change was prompted more by the commentary from CEO Bob Iger on CNBC than by the company's investor day presentation unveiling Disney+. The analyst says he was initially inclined to keep his Sell rating given the overly "ambitious" 60M-90M 5-year subscriber target for the product, adding that while it is "nearly impossible to disprove a five-year projection for a service that has not even launched", he saw the $2.5B original content investment by 2024 as too small. Greenfield turned less negative on stock however after the company's CEO Iger signaled that the company is more aware of the need to "realize an even more dramatic shift in strategy" to a more consumer-driven model that will be required as its legacy businesses erode.
04/15/19
04/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Neutral from Sell at BTIG with analyst Richard Greenfield saying the rating change was prompted more by the commentary from CEO Bob Iger on CNBC than by the company's investor day presentation unveiling Disney+. 2. Western Digital (WDC) upgraded to Buy from Neutral at Longbow with analyst Nikolay Todorov saying NAND fundamentals are bottoming and "there is a line of sight to cyclical recovery." 3. Dow Inc. (DOW), Huntsman (HUN), LyondellBasell (LYB), and Eastman Chemical (EMN) upgraded to Buy from Neutral at Nomura Instinet, while Olin (OLN) and Westlake Chemical (WLK) were upgraded to Neutral from Reduce. 4. Waste Management (WM) upgraded to Buy from Hold at Stifel with analyst Michael Hoffman saying even with potential divestitures to get the deal approved, adding Advanced Disposal "dramatically lowers" Waste Management's cost of capital, reduces capital spending, converts more of the fleet to CNG, and stimulates tuck-in activity that should all drive sustainable free cash flow growth. 5. Sony (SNE) upgraded to Buy from Hold 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.
04/16/19
JPMS
04/16/19
NO CHANGE
JPMS
Overweight
Netflix Q1 earnings bar likely lowered amid Disney fears, says JPMorgan
Netflix (NFLX) shares are down 5% since the Disney (DIS) streaming service reveal last week, JPMorgan analyst Doug Anmuth tells investors in a research note. This likely reflects a potential overhang from not being able to disprove the Disney risk until late 2019/early 2020, Disney's initial $6.99 per month price point and "strong enthusiasm" on Disney's content and management's tone around being "all in" on streaming, says Anmuth. The analyst expects Disney+ will likely be the most competitive streaming offering to Netflix, but he does not view it as a major threat to Netflix subscriber numbers given the company's "quality and quantity" of content. Further, given the "strong global secular shift" toward streaming, there is room for multiple companies to succeed, he contends. Anmuth continues to like Netflix shares into tonight's results as he believes the competitive fears will prove overdone. Netflix's first half of 2019 content slate is strong and performing well, and the Q1 earnings bar has likely come down over the past few days, says Anmuth. He keeps an Overweight rating on Netflix shares.
AAPL Apple
$199.00

-0.21 (-0.11%)

04/12/19
04/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Sell at New Street. 2. Chesapeake (CHK) downgraded to Sell from Neutral at Goldman Sachs. 3. Grainger (GWW) downgraded to Underperform at Gordon Haskett with analyst John Inch citing his view of the risk that Grainger's U.S. sales significantly decelerate, driven by his analysis of web data. 4. LogMeln (LOGM) downgraded to Underweight from Overweight at Barclays with analyst Raimo Lenschow saying the core LogMeln offering around the Gravity platform is at the end of its growth trajectory, as the impact of pricing is weakening. 5. Crown Castle (CCI) downgraded to Neutral from Buy at Guggenheim with analyst Robert Gutman saying secular strength is now reflected in valuation and raised his price target to $127 from $120. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/19
MSCO
04/12/19
NO CHANGE
Target $220
MSCO
Overweight
Apple installed base share grew in China again in March, says Morgan Stanley
Data from Jiguang indicate that Apple's share of the Chinese smartphone installed base grew about 300 basis points year-over-year in March, according to Morgan Stanley analyst Katy Huberty, who notes that this was the third consecutive month of installed base share gain in China for Apple. March was also the strongest month of year-over-year installed base share gains in China in 15 months, noted the analyst, who has an upward bias to her below-consensus iPhone forecast for the March-end quarter. Huberty keeps an Overweight rating on Apple with a $220 price target.
04/12/19
NWST
04/12/19
DOWNGRADE
NWST
Sell
Apple downgraded to Sell at New Street
04/11/19
UBSW
04/11/19
NO CHANGE
Target $70
UBSW
Buy
Lumentum price target raised to $70 from $53 at UBS
UBS analyst Tejas Venkatesh raised his price target on Lumentum (LITE) to $70 and kept his Buy rating, saying he remains positive on the stock to produce upside to consensus estimates. The analyst cites the company likely maintaining a dominant market share with Apple (AAPL) as its unit count improves in FY20 on another iPhone cycle, leaving the adverse "inventory situation" behind. Venkatesh also anticipates "strong ROADM growth due to Lumentum's technical superiority" and benefits from China correcting its "historical underinvestments."

TODAY'S FREE FLY STORIES

BCBP

BCB Bancorp

$13.09

0.08 (0.61%)

16:21
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16:21
Earnings
BCB Bancorp reports Q1 EPS 32c, consensus 30c »

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VIX

Volatility Index S&P 500 Options

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16:20
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Options
Closing CBOE SPX and VIX Index summary for April 18th »

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OKE

Oneok

$69.13

-0.59 (-0.85%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

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NYSE market internals summary »

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HEP

Holly Energy Partners

$28.23

0.51 (1.84%)

16:16
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Holly Energy Partners raises dividend to 67c per unit from 66.75c »

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HES

Hess Corp.

$65.87

-0.05 (-0.08%)

16:15
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Hess Corp. announces 13th discovery offshore Guyana »

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16:15
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General news
Breaking General news story  »

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General news
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DTRM

Determine

$0.00

(0.00%)

16:13
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04/18
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Hot Stocks
Determine announces winding up, liquidation, and dissolution »

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PRTA

Prothena

$10.67

-0.08 (-0.74%)

16:12
04/18/19
04/18
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Prothena will explore potential business development opportunities for NEOD001 »

Prothena reports results…

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  • 06

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FFIN

First Financial

$60.25

-0.32 (-0.53%)

16:11
04/18/19
04/18
16:11
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16:11
Earnings
First Financial reports Q1 EPS 56c, consensus 56c »

Reports Q1 loan loss…

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  • 23

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INDB

Independent Bank

$84.23

-0.98 (-1.15%)

16:11
04/18/19
04/18
16:11
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16:11
Earnings
Independent Bank reports Q1 EPS $1.30, consensus $1.29 »

Reports Q1 NII $82.5M vs.…

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EXPO

Exponent

$56.31

0.15 (0.27%)

16:11
04/18/19
04/18
16:11
04/18/19
16:11
Earnings
Exponent reports Q1 EPS 42c, consensus 36c »

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  • 18

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SRCE

1st Source

$46.04

-0.68 (-1.46%)

16:11
04/18/19
04/18
16:11
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16:11
Earnings
1st Source reports Q1 EPS 86c, consensus 85c »

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  • 18

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AMNB

American National Bankshares

$35.04

-0.25 (-0.71%)

16:10
04/18/19
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16:10
Earnings
Breaking Earnings news story on American National Bankshares »

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LITE

Lumentum

$60.71

0.56 (0.93%)

16:10
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Lumentum sees revenue from datacom transceivers down $20M-$25M in Q4 »

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TRNO

Terreno Realty

$43.11

0.44 (1.03%)

16:09
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Terreno Realty executes 192K sqm lease in Florida »

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INNV

Innovus Pharmaceuticals

$0.00

(0.00%)

, AKRX

Akorn

$2.77

-0.16 (-5.46%)

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Innovus announces FDA approval for Akorn's ANDA for FlutiCare »

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INNV

Innovus Pharmaceuticals

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AKRX

Akorn

$2.77

-0.16 (-5.46%)

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  • 01

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ISRG

Intuitive Surgical

$530.12

5.37 (1.02%)

16:09
04/18/19
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Earnings
Intuitive Surgical says worldwide da Vinci procedures grew 18% »

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ISRG

Intuitive Surgical

$529.84

5.09 (0.97%)

16:07
04/18/19
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16:07
Earnings
Intuitive Surgical reports Q1 EPS $2.61, consensus $2.70 »

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UIHC

United Insurance

$16.45

0.28 (1.73%)

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United Insurance estimates Q1 catastrophe losses of roughly $18M pre-tax »

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ADAP

Adaptimmune

$4.08

-0.23 (-5.34%)

16:05
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Adaptimmune announces presentation of allogeneic SPEAR T-cell program at ASGCT »

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W

Wayfair

$145.34

-0.56 (-0.38%)

16:05
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PBCT

People's United

$17.12

-0.215 (-1.24%)

16:05
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People's United raises annual dividend to 71c per share »

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