UPDATE: Albert Fried & Company Initiates Netflix at Under Weight on Organic Growth Concerns
Albert Fried & Company initiated coverage on Netflix (NASDAQ: NFLX) with an Underweight rating and a $68.00 price target.
Albert Fried & Company commented, "Unlike our peers, we think NFLX's $7 billion in content exposure is a poison pill to any premium bid. In our view, if it walks like a Duck it ain't a Bird of Paradise no matter what a fancy bulge bracket firm says. If you accept our competition's argument, then choose your poison because we think whether the content costs are accounted in the numerator or the denominator the risk or the cash flow looks negative in our view."
Netflix closed at $97.70 on Thursday.
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