UPDATE: Netflix (NFLX) PT Lowered to $525 at Macquarie, ' 2H'21 & beyond looks promising with margin expansion and FCF improvement'
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Macquarie analyst Tim Nollen lowered the price target on Netflix (NASDAQ: NFLX) to $525.00 (from $600.00) while maintaining a Neutral rating.
The analyst comments "NFLX stock benefitted greatly from many years of strong subscriber additions, and now is finding it harder to sustain momentum when this falls short. We believe some of this is likely due to rising competition, which is why we downgraded NFLX 18 months ago. But at the same time, we appreciate that Netflix has become a company with better revenue, earnings and FCF predictability – and positivity. We see a long runway for growth outside the US, but a lack of near term catalysts, especially on a tough YoY comparison, keeps us Neutral."
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