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UPDATE: Morgan Stanley Downgrades Netflix Following Correction of Mispricing

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In a report published Thursday, Morgan Stanley analyst Scott Devitt downgraded the rating on Netflix (NASDAQ: NFLX) from Overweight to Equal-Weight, and removed the $314.00 price target.

In the report, Morgan Stanley noted, “We believe the fundamental mispricing of NFLX shares that has existed over the past 12 months has fully corrected. At current price levels, it is clear that investors have far greater conviction in Netflix's ability to meaningfully penetrate the 60-90MM domestic household TAM that CEO Reed Hastings sees. Netflix became available to over 6MM broadband households in the Netherlands this week, but its path to international success is still less clear.”

Netflix closed on Wednesday at $308.30.

Latest Ratings for NFLX

DateFirmActionFromTo
Oct 2014Janney CapitalMaintainsBuy
Oct 2014Goldman SachsMaintainsBuy
Oct 2014BMO CapitalMaintainsMarket Perform

View More Analyst Ratings for NFLX
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Posted-In: Morgan Stanley Scott DevittAnalyst Color Downgrades Analyst Ratings

 

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