Market Overview

Stifel Likes Netflix After Recent Plunge


In a Tuesday morning summary, Stifel reiterated its Buy rating and $535 price target on shares of Netflix, Inc. (NASDAQ: NFLX).

The note said, "Netflix shares have pulled back by more than 10% over the past two weeks, which we believe is largely due to the perception that growing streaming video on-demand (SVOD) competition could negatively impact Netflix's domestic business, which is currently funding much of its content library investments/international expansion. We believe competitive concerns are overblown; we think Netflix's positioning in the U.S. is as strong as ever and continues to improve with each new content deal it signs. Recent speculation over a Spain launch in late summer/early fall could also prove to be a tailwind to Netflix's international business in 2015 that may not be fully reflected in consensus numbers."

Stifel still expects 100 million global subscribers by 2017, given Netflix's pace of international expansion and content announcements.

Shares of Netflix closed Monday at $421.97, implying 26.77 percent upside to the $535 price target.

Latest Ratings for NFLX

Jan 2020MaintainsBuy
Dec 2019MaintainsBuy
Dec 2019DowngradesHoldUnderperform

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Posted-In: StifelAnalyst Color Reiteration Analyst Ratings


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