UBS Maintains a 'Neutral' on Netflix (NFLX); Concurrent Financing Deals Support NFLX Content Acquisition Strategy
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Price: $226.18 -1.04%
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
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UBS maintains a 'Neutral' on Netflix (NASDAQ: NFLX) price target cut from $82 to $75.
UBS analyst says, "$400MM of Financing Makes “Doubling” Content Costs in 2012 Possible: Yesterday, NFLX priced concurrently a $200MM stock offering (to certain T. Rowe mutual funds) and a $200MM Zero-Coupon Senior Convertible Notes offering (to funds affiliated with Technology Crossover Ventures). The stock offering priced at $70 / share for ~ 2.86MM shares. The notes have a conversion price of $85.80 / share, subject to adjustment upon occurrence of certain events."
UBS lowers FY11 EPS estimate from $4.04 to $3.84 and FY12 from $2.51 to $0.30.
For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.
Shares of Netflix closed at $74.47 yesterday, with a 52 week range of $73.26-$304.79.
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UBS analyst says, "$400MM of Financing Makes “Doubling” Content Costs in 2012 Possible: Yesterday, NFLX priced concurrently a $200MM stock offering (to certain T. Rowe mutual funds) and a $200MM Zero-Coupon Senior Convertible Notes offering (to funds affiliated with Technology Crossover Ventures). The stock offering priced at $70 / share for ~ 2.86MM shares. The notes have a conversion price of $85.80 / share, subject to adjustment upon occurrence of certain events."
UBS lowers FY11 EPS estimate from $4.04 to $3.84 and FY12 from $2.51 to $0.30.
For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.
Shares of Netflix closed at $74.47 yesterday, with a 52 week range of $73.26-$304.79.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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