UBS Reiterates Sell On Netflix, Says Epix News "Misguided" (NFLX)

UBS Investment Research is out with a report today reiterating its Sell rating and $90 price target on Netflix NFLX as the recent news with Epix is being misinterpreted the investment bank said. The Swiss bank states that the deal will lack new releases and large Dreamworks DWA deals such as Shrek due to those being part of separate negotiations. It also believes the cost of goods will offset any Epix revenues. Shares of Netflix are surging today, up $8.56 to $125.46.