Netflix (NFLX) PT Raised to $82 at Wedbush, Street Low, Maintains Underperform
Wedbush raised its price target on Netflix (NASDAQ: NFLX) to $82.00 (from $73.00) while maintaining a Underperform rating.
Analyst Michael Pachter comments that "we have been consistently wrong about this stock, we have consistently valued stocks under coverage based upon the discounted present value of their future cash flows." He believes that should the cost of content continue to run higher the company will continue to burn cash to fund content acquisition. He says international profits remain elusive and domestic growth inevitably decelerates.
FY 2017 EPS estimate rises from $0.99 to $1.21 and FY 2018 EPS estimate falls from $1.60 to $1.57.