UPDATE: Citigroup Raises PT on Netflix on Refined International Analysis
In a report published Wednesday, Citigroup analyst Mark May reiterated a Neutral rating on Netflix (NASDAQ: NFLX), and raised the price target from $355.00 to $390.00.
In the report, Citigroup noted, “As discussed in detail in ‘TV is Dead. Long Live TV.', Citi's global media team established a framework to evaluate the extent to which key countries are at risk of web-based video delivery disrupting the existing pay TV ecosystem. This framework scores each country based on a number key variables like Internet penetration & speeds, datacaps and pay TV penetration.”
Netflix closed on Tuesday at $362.25.
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