Netflix (NFLX) PT Raised to $140 at Guggenheim
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In a note after the close on Friday, Guggenheim analyst Michael Morris updated his Netflix (NASDAQ: NFLX) model after the 10-Q filing, reiterating a Buy rating and raising his price target to $140.00 (from $135.00).
Morris commented, "We continue to use a DCF as our primary valuation metric for Netflix as we view the company as in an early investment phase, and believe the DCF best reflects the long-term potential value creation. Our price target is now $140, up from $135. Our DCF valuation uses a 7.9% WACC (down from 8.1%, reflecting an anticipated modest increase in debt financing) and a 4.0% long-term growth rate."
Shares of Netflix closed at $127.50 yesterday.
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