UPDATE: Goldman Sachs Raises Netflix's PT
According to a research report published this morning, Goldman Sachs has increased Netflix's (NASDAQ: NFLX) PT from $100 to $115.
In the report, Goldman Sachs said, "Results were essentially in line with consensus, but below our expectations, as DVD churn outpaced our forecasts. However, the trajectory on profitability was better than we expected, and the company is already planning a new international market launch for 4Q. We continue to believe that the domestic business will likely exceed management's forecasts for subscriber growth. However, the difficulty in building a comparable international business, the rate of decline in the DVD business, and the stock's premium valuation keep us at Neutral."
Netflix closed yesterday at $101.84.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.