Netflix (NFLX) PT Raised to $115 at SunTrust Robinson Humphrey
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
SunTrust Robinson Humphrey analyst Robert Peck raised his price target on Netflix (NASDAQ: NFLX) to $115.00 (from $110.00) but maintained a Hold rating following better than expected Q3 and guidance.
Peck commented, "Netflix reported a better than feared 3Q, and guided to a strong 4Q, driven by the draw of original content, which more than offset any impact of ungrandfathering and Olympics. Revenue and Contribution Profits were better on higher ARPU. While we roll out 2017 year-end PT of $115 (from $100), we maintain Hold on: 1) lower FCF from increasing investment in original content with higher upfront cash costs, driven by competition and the need to localize, 2) intensifying diverse competition for screen time, and 3) premium valuation. Our PT implies ~40x 2018 EBITDA and ~60x P/E."
Shares of Netflix closed at $99.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) PT Raised to $96 at UBS Following 2Q Report
- UPDATE: BMO Capital Upgrades CSX (CSX) to Outperform
- Procter & Gamble (PG) PT Raised to $99 at Jefferies Following 2Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesSunTrust Robinson Humphrey, Robert Peck
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!