UPDATE: National Alliance Capital Initiates Netflix at Market Perform; Attractive at Better Entry

National Alliance Capital initiated Netflix (NASDAQ: NFLX) with a Market Perform rating and a $102.00 price target.

National Alliance Capital noted, "We're initiating on Netflix with a Market Perform rating, and $102 price target, with a 3% share price to target return opportunity. The Company's product portfolio offers a pure play on the rapidly expanding over-the-top Internet movie and TV content providers (minus legacy DVD business in secular decline), over connected platforms including: TV, PC, Tablet, Console and Mobile platforms. The Company has a large subscriber base, with an aggressively expanding connected platform market as an opportunity for further subscriber acquisition. … We would look more favorably on the Company's risk / reward profile under $100 per share, where shares could find support at the $60 level."

Netflix closed at $99.17 on Friday.

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