Netflix (NFLX) PT Raised to $115 at BMO Capital; Un-Grandfathering Concerns Prove Overdone
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
BMO Capital analyst Daniel Salmon reiterated a Market Perform rating and bumped his price target on Netflix (NASDAQ: NFLX) to $115.00 (from $85.00) following strong Q3 and Q4 guidance, saying un-granfathering concerns proved overdone.
Salmon commented, "Netflix bounced back from last Q's disappointment as quarter-to-quarter volatility balanced out and pushed back on the Bear case with a very strong 3Q report and 4Q guidance. That said, we remain on the sidelines as we expect the stock to move back to the high end of recent trading range and we can't yet foresee a next leg to the story in the near term. We expect that will be more likely found on the international side as local language content/improved localization rolls out and potentially boosts sub growth."
Shares of Netflix closed at $99.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- MKM Partners Raises Price Target on Broadcom Ltd. (AVGO) to $207 Following 4Q Beat
- FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!