Canaccord Genuity Re-Initiates Coverage on Netflix (NFLX) at Sell; Positive Macro Outweighed by Numerous Company-Specific Issues

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Canaccord Genuity re-initiates coverage on Netflix (NASDAQ: NFLX) with a Sell. PT $60.00.

Canaccord analyst, Jeff Rath, said, "While the macro environment appears positive for NFLX, we believe that the company faces numerous challenges, including accelerating subscriber losses, rising content costs, an increased competitive landscape and the possibility of having to raise capital...International growth (Lat Am, UK and Ireland) is not as large an opportunity as some investors might think, in our opinion."

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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