Jefferies Upgrades Netflix (NFLX) to Hold Following Massive Sell-Off
Get Alerts NFLX Hot Sheet
Rating Summary:
44 Buy, 27 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 13 | New: 8
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Jefferies upgraded Netflix (NASDAQ: NFLX) from Underperform to Hold with a price target of $300.00 (from $350.00), with shares down 26% following weak Q3 sub numbers and guidance after the close.
The Jefferies US Internet Team commented, "Today we are upgrading NFLX to Hold despite the 3Q subscriber miss. We think the price increase - which has yet to kick in for most subs - is a meaningful positive. And NFLX has proven it can achieve international profitability, giving confidence in future launches. While our prior concerns persist, the risk/reward profile looks much more favorable at these levels."
The firm lowered Q4 EPS from $0.94 to $0.45 and FY 2014 EPS from $3.89 to $3.41.
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 $448.59 yesterday.
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