Netflix (NFLX) PT Raised to $130 at Nomura
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- TD Ameritrade (AMTD) to Acquire Scottrade in $4B Cash & Stock Deal
- Oil prices under pressure as Iraq resists joining output cut
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Nomura Securities analyst Anthony DiClemente reiterated a Buy rating and raised his price target on Netflix (NASDAQ: NFLX) to $130.00 (from $110.00) following strong Q3 results and guidance.
DiClemente commented, "Netflix showed that the qualitative virtues often cited by bulls - secular growth of internet video, global scale, a commitment to quality content, and singular focus - could drive robust subscriber growth even in the face of well-documented headwinds. 3Q US and international net subscriber additions handily surpassed estimates and the company's guidance; Netflix also guided 4Q US and international net additions ahead of expectations, this is despite higher prices and despite comparing against the large S. European launch internationally. Looking out to 2017, management expressed caution regarding international subscriber additions in 1Q17 due to the comparison against the ROW launch. 3Q profitability also exceeded expectations driven by continued leverage and margin expansion in both the US and internationally. We raise our estimates and take our TP to $130, on both higher estimates and a modestly higher valuation multiple for international."
The firm raised FY16E EPS from $0.24 to $0.40; FY17E EPS from $1.01 to $1.06
Shares of Netflix closed at $99.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gigamon (GIMO) PT Raised to $58 at Needham & Company Ahead of Results
- Jefferies Cuts Price Target on Boston Beer Co. (SAM) to $140 Following Weak 3Q
- PayPal (PYPL) PT Raised to $47 at Credit Suisse; Results Just 'Ok' But Visability Increases Conviction
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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!