Mark Mahaney Disagrees With Analysts 'Throwing Around' $1,600 P.T. For Netflix, Considers Twitter 'Really Long Turnaround Process'

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Stifel analyst Scott Devitt recently published a note to investors in which he mentioned his bullish scenario for Netflix, Inc. NFLX which is that the stock will touch $1,600 by 2020. RBC's Mark Mahaney was on CNBC Friday to weigh in on this. Mahaney also shared his outlook for Twitter Inc TWTR.


Twitter Needs To Improve Products


"Twitter, we think, is a really long turnaround process," Mahaney said. "I hope it works, but we are not recommending the stock and hope is not a good reason to do that. They need to improve both products for users and products for advertisers."


Need To See International Execution Before 'Throwing' $1,600 P.T.


Mahaney was asked what he thinks of Stifel analyst Scott Devitt's bullish case scenario of Netflix touching $1,600 by 2020. He replied, "Look, I have been bull on Netflix since $60, also from $130 going down to $60. So, we didn't missed this early call to bottom. I think, it's a great, a fundamental story. I don't think you want to be aggressively buying Netflix here. It is one of our buys, it was one of our top buys at the beginning of the year."


"As the stock [has] almost doubled year-to-date, I think, you want to cool down the [...] a little bit here. You also want to see, come on now let's show some execution in the international markets. Let's see if they can have any success in Japan, any success in China before we start throwing around $1,600 price target," Mahaney concluded.

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Posted In: CNBCMedia
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