Netflix (NFLX) PT Raised to $80 at Jefferies; Maintains 'Underperform'
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Jefferies analyst John Janedis reiterated an Underperform rating on Netflix (NASDAQ: NFLX) following better-than-expected Q3 results and guidance while raising his price target to $80.00 (from $76.00).
commented, "Netflix reported better than expected subscriber growth (3.57M vs JEFe: 1.95M), with strength in both the US and International segments. However, we continue to believe that growth going forward could be more moderate than expected, especially given difficult comps against international launches in 4Q16 / 1Q17 - we maintain our UP rating, and think our thesis will play out over time."
The firm raised FY 2016 EPS estimates from $0.28 to $0.40 and FY 2017 EPS estimates from $0.71 to $1.05.
Shares of Netflix closed at $99.80 yesterday.
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