Cantor Fitzgerald Starts Netflix (NFLX) at Buy, Calls Stock Cheap

After the close Cantor Fitzgerald initiates coverage on Netflix (NASDAQ: NFLX) with a Buy. PT $70.00.

The firm comments, "Netflix pioneered over-the-top and has enormous global growth potential, in our opinion, as entertainment continues to shift to internet-based on-demand platforms. The key to our thesis is that over the intermediate/longer-term, revenue and subscriber growth should outpace content costs as international markets turn profitable and content spend is allocated over a growing subscriber base. We believe shares have overreacted to near-term profitability concerns, providing patient investors with a very attractive entry-point."

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 $57.04 yesterday.

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