UPDATE: Credit Suisse Reiterates On Netflix Following 3Q14 Revenue Report

In a report published Thursday, Credit Suisse analyst Stephen Ju reiterated a Neutral rating on

, but lowered the price target from $430.00 to $394.00. In the report, Credit Suisse noted, “Netflix reported 3Q14 revenue of $1.40b in-line with consensus as well as CS estimates. While International Streaming subscribers were as projected at 14.4mm, Domestic Streaming subscribers fell of short expectations at 36.3mm (vs. CS 36.5mm). Our target price is now $394 and our FY14 and FY15 Adj. EPS estimates are now $4.55 and $5.39, respectively.” Netflix, Inc. closed on Wednesday at $448.59.