Jefferies Downgrades Netflix (NFLX) to Hold, Saying Valuation is Full
Tweet Send to a Friend
Get Alerts NFLX Hot Sheet
Price: $228.74 +1.13%
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade NFLX Now!
Jefferies downgraded Netflix (NASDAQ: NFLX) from Buy to Hold, saying while the story is still compelling valuation is full.
The firm states, "We're lowering our rating to Hold from Buy, given the 270% run-up in the stock since January 2010. While the story's fundamentals remain strong and business is performing at the high-end of expectations, we find limited upside to our $195 price target."
The downgrade also follows news last night that CFO Barry McCarthy is resigning.
For more ratings news on Netflix click here and for the rating history of Netflix click here.
Shares of Netflix closed at $189.81 yesterday, with a 52 week range of $48.52-$209.24.
Shares of Netflix are down 4 percent in pre-open trading today.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm states, "We're lowering our rating to Hold from Buy, given the 270% run-up in the stock since January 2010. While the story's fundamentals remain strong and business is performing at the high-end of expectations, we find limited upside to our $195 price target."
The downgrade also follows news last night that CFO Barry McCarthy is resigning.
For more ratings news on Netflix click here and for the rating history of Netflix click here.
Shares of Netflix closed at $189.81 yesterday, with a 52 week range of $48.52-$209.24.
Shares of Netflix are down 4 percent in pre-open trading today.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: MKM Partners Downgrades Alkermes (ALKS) to Sell
- Deutsche Bank Downgrades Signet Jewelers (SIG) to Hold
- Canaccord Genuity Downgrades Cirrus Logic (CRUS) to Hold
Create E-mail Alert Related Categories
Downgrades, Hot DowngradesRelated Entities
Jefferies & Co
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
