Netflix (NFLX) Still Positioned to Monopolize Market Despite Weak Q3, Janney Says
Janney Capital analyst Tony Wible lowered his price target on Netflix (NASDAQ: NFLX) to $470.00 (from $525.00) following weak Q3 subscriber numbers but maintained a Buy rating.
Wible commented, "There was little to like in NFLX quarter as subs missed on price increases. Higher intl costs, VAT issues, HBO headlines, and spike in obligations amplify the ugly quarter. Elasticity is the key concern as it could undermine the pricing leverage central to our thesis. However, we believe it is too early to make this call. NFLX is still rapidly growing subs around the globe and is in a position to monopolize the market"
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 $448.59 yesterday.