Netflix (NFLX) PT Goes to $525 at Janney Capital Post Q2
Janney Capital analyst Tony Wible reiterated a Buy rating and bumped his fair value target on Netflix (NASDAQ: NFLX) to $525.00 (from $450.00) following Q2 results.
Wible comments, "NFLX reported 2Q14 EPS of $1.15, in line with consensus. Net streaming adds were slightly higher than expected, while margins continued to expand a little faster than anticipated. Strong international results are playing a large role in near term earnings as NFLX is ramping operations in existing markets at a faster than expected pace while accelerating new market roll outs (France and Germany planned for September) that lift sub targets and expense assumptions. These initial costs lead us to lowering our FY14 and FY15 estimates, but the faster than expected ramp to global TAM leads us to raise our FV to $525 (from $450). "
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Shares of Netflix closed at $451.95 yesterday.