Netflix (NFLX) PT Cut to $85 at MoffettNathanson as Narrative Shifts

MoffettNathanson analyst Michael Nathanson reiterated a Neutral rating and lowered his price target on Netflix (NASDAQ: NFLX) to $85.00 (from $98.00).

"... the relativity weak first quarter domestic subscriber guide may portend that first quarter domestic subscriber guide may portend that 60 million subscribers is an upper bound," Nathanson said. "In addition, while domestic contribution margins will likely exceed 40% ahead of plan, the shifting of content spending to new markets will depress international margins."

The narrative on the stock, according to the analyst, has shifted from invincibility to concern.

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 $89.71 yesterday.

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