Netflix (NFLX) PT Bumped to $95 at SunTrust Robinson Humphrey
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Rating Summary:
43 Buy, 27 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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SunTrust Robinson Humphrey analyst Robert Peck reiterated a Neutral rating and boosted his price target on Netflix (NASDAQ: NFLX) to $95.00 (from $90.00).
Peck commented, "Subscriber adds were handily above consensus (2Q actuals and 3Q guided) both Int’l and Domestic. Thus consensus topline forecast should lift and the stock was up ~10% after-hours. However, FCF missed (-$229m vs -$66m) and commentary around out-year cash flow and Int’l profitability was more cautious; thus we expect consensus profit and cash flow forecast to come down. Further, customer acquisition cost (CAC) increased at an accelerating rate for the 4th consecutive quarter."
The firm's 2015/2016 revenue forecast increases by 1%/3% on higher subs and they raise 2015 EBITDA/EPS to $479m/$0.43 from $405m/$0.32 on better 2Q results and 3Q guidance. However, they lower 2016 to $544m/$0.48 from $619m/$0.58 due to more tepid commentary around Int’l profitability.
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 $98.13 yesterday.
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