Janney Montgomery Scott Upgrades Netflix (NFLX) to Neutral
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Price: $239.00 +0.83%
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
15 Buy, 18 Hold, 10 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade NFLX Now!
Janney Montgomery Scott upgraded Netflix (NASDAQ: NFLX) from Sell to Neutral with a price target of $67.00 (from $70.00).
The firm comments, "We are upgrading NFLX to NEUTRAL, as we believe the risk/reward is more balanced after the recent sell off and downward estimate revisions. We are not changing our views on the longer term headwinds for the company tied to a slowdown in sub growth and the cannibalization of the high margin DVD business. However, this is tempered in the near term by studio dependency, lack of competition, slower decline in DVD, new compression technology counteracting UBB, potential M&A, and cost rationalization. We are maintaining estimates but reducing our fair value to $67 from $70 based on our updated sum of the parts valuation."
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 $67.86 yesterday, with a 52 week range of $60.70-$304.79.
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The firm comments, "We are upgrading NFLX to NEUTRAL, as we believe the risk/reward is more balanced after the recent sell off and downward estimate revisions. We are not changing our views on the longer term headwinds for the company tied to a slowdown in sub growth and the cannibalization of the high margin DVD business. However, this is tempered in the near term by studio dependency, lack of competition, slower decline in DVD, new compression technology counteracting UBB, potential M&A, and cost rationalization. We are maintaining estimates but reducing our fair value to $67 from $70 based on our updated sum of the parts valuation."
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 $67.86 yesterday, with a 52 week range of $60.70-$304.79.
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