Netflix (NFLX) PT Raised to $450 at Evercore ISI on Strong Q4
Evercore ISI analyst Ken Sena raised his price target on Netflix (NASDAQ: NFLX) to $450.00 (from $430.00) following strong forth quarter numbers after the close with brightened international prospects. However, the firm stopped short of upgrading the stock and maintained a Hold rating.
Sena commented, "Netflix reported strong Net Subscriber Additions and profit growth on a very healthy outlook for 1Q15 and beyond. Importantly, management boldly stated their ability to complete their global expansion "over the next two years, while staying profitable," which should allow International to "generate material global profits from 2017 onwards." The earlier-than-expected announcement stemmed from its initial set of markets (Canada, Latin America, UK, Ireland, the Nordic Countries, and the Netherlands) showing consistent profitability and growth patterns while newer markets (France, Germany, Austria, Switzerland, Belgium and Luxembourg) are trending similarly, albeit benefiting additionally from the recent emphasis on original programming and its success obtaining global rights exclusivity, vs. country-by-country."
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Shares of Netflix closed at $348.80 yesterday.