Netflix (NFLX) PT Raised to $110 at Wedbush

Wedbush raised its price target on Netflix (NASDAQ: NFLX) to $110.00 (from $93.00) while maintaining an Underperform rating.

Analyst Michael Pachter commented, "We expect Netflix to burn cash to fund content acquisition for many years, notwithstanding the fact that it has increased price three times while cash burn continues to grow. International profits may remain elusive due to competition for content and subs, and the price increases could cause a deceleration in subscriber growth. Negative FCF makes DCF valuation impossible."

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