Janney Upgrades Netflix (NFLX) from Sell to Neutral

October 21, 2010 7:27 AM EDT Send to a Friend
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Price: $359.22 +0.60%

Rating Summary:
    23 Buy, 22 Hold, 7 Sell

Rating Trend: = Flat

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An analyst at Janney Capital upgraded shares of Netflix (Nasdaq: NFLX) from Sell to Neutral this morning following last night's strong Q3 results and strong subscribers guidance. The firm sets a $145 fair value estimate.

Shares of Netflix are up more than 15% in this morning's pre-market session.

Janney cites:
  • see more revenue opportunities tied to cord cutting (new subs and possible increase in ARPU)
  • new pricing models (both subscription and a la carte), and
  • international expansion that is complemented by near-term benefits of the streaming transition and credit/debit card interchange rules.
The firm says that Netflix is "proving to be more nimble than the competition...."

Visit our Analyst Ratings page to track all the upgrades/downgrades on shares of Netflix.


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