Market Overview

UPDATE: Bank of America Merrill Lynch Reiterates Underperform Rating, Raises PT on Netflix

Share:
Related NFLX
Netflix Spikes On Takeover Chatter
Fear Of Commitment? Millennials Prefer To Lease Over Buying Their Cars
AT&T (T) is Latest Company to Validate What Viva Entertainment Group (OTTV) is Doing (Small Cap Network)

In a report published Wednesday, Bank of America Merrill Lynch reiterated its Underperform rating on Netflix (NASDAQ: NFLX), and raised its price target from $60.00 to $68.00.

BofA Merrill Lynch noted, “Netflix developed and is the leader in the subscription DVD rental market. More recently Netflix's growth has been driven by its streaming service which allows users to stream titles to their TVs, PCs, or mobile devices instantly. Although Netflix's story has plenty for both the bulls and bears, our bias shifts more to the bear than the bull side due concerns surrounding the health of the domestic streaming business.”

Netflix closed on Tuesday at $97.16.

Latest Ratings for NFLX

DateFirmActionFromTo
Sep 2016MacquarieDowngradesNeutralUnderperform
Aug 2016Axiom CapitalInitiates Coverage onSell
Aug 2016William BlairUpgradesMarket PerformMarket Outperform

View More Analyst Ratings for NFLX
View the Latest Analyst Ratings

Posted-In: Bank of America Merrill LynchAnalyst Color Price Target Analyst Ratings

 

Related Articles (NFLX)

View Comments and Join the Discussion!