Netflix (NFLX) PT Raised to $165.00 at Oppenheimer
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Oppenheimer raised its price target on Netflix (NASDAQ: NFLX) to $165.00 (from $134.00) while maintaining a Outperform rating following strong results.
Analyst Jason Helfstein commented, "Following strong 4Q results and 1Q guidance, we're raising our PT from $134 to $165. Revenue was slightly above Opco/Street on stronger int'l sub growth, driven by original content/localization. This should significantly alleviate investor concerns about competition, proving NFLX's ability to develop compelling original content for int'l markets. Profitability also outperformed, with contribution profit 7%/10% above Opco/Street on better marketing efficiency and continued shift to self/co-production. NFLX guided 1Q17 global paid net adds/contribution profit 19%/13% above Street, suggesting continued sub momentum and scalability, driven by Netflix's industry leadership. Our PT implies 14x/4.6x ‘18E US EBITDA/sales and 7.3x int'l sales."
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