Market Overview

UPDATE: Oppenheimer Downgrades Netflix to Perform on Valuation

Share:
Related NFLX
The Most Compelling Hail Mary For Comcast: Charter
The Sell-Side Responds To Netflix's Q1 Earnings
NETFLIX SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC ... (GuruFocus)

Oppenheimer lowered its rating on Netflix (NASDAQ: NFLX) from Outperform to Perform and maintained its $80 price target following a significant share price appreciation on Wednesday.

Oppenheimer noted, "We are downgrading NFLX to Perform from Outperform on valuation, following its 14% increase, now near our $80 target, as activist investor Carl Icahn disclosed a 10% ownership position. While we continue to believe NFLX has a strong competitive position, AMZN's future behavior toward subscription video is not predictable and will limit the stock's valuation to 13x US earnings, in our view. Furthermore, our 2013 estimates assume a steady decline in DVD subscribers, which could prove overly aggressive."

Netflix closed at $79.24 on Wednesday.

Latest Ratings for NFLX

DateFirmActionFromTo
Apr 2017Cantor FitzgeraldMaintainsOverweightOverweight
Apr 2017RosenblattInitiates Coverage OnNeutral
Mar 2017Deutsche BankMaintainsHold

View More Analyst Ratings for NFLX
View the Latest Analyst Ratings

Posted-In: OppenheimerAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (NFLX)

View Comments and Join the Discussion!