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Guggenheim Analyst Thinks Netflix Is Going To At Least Meet Q3 Guidance

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Michael Morris, media analyst at Guggenheim Securities, spoke on CNBC's "Squawk On The Street" about Netflix, Inc. (NASDAQ: NFLX). The company is going to report earnings after Monday's market close and he thinks it's going to be able to at least meet its Q3 guidance.

See Also: Here Are The Key Numbers People Want To See From Netflix This Quarter

He thinks the company had mixed results with its price increase approach, but added that the latest increase was within the value the company delivers. Morris knows the stock price is going to react on subscriptions on earnings, but he's focused on the long-term value. He has a Buy rating for the stock and a price target of $225.

Morris believes the valuation for Netflix can be reduced to two things, the value proposition of the consumer and tremendously under-penetrated global market, with a half of billion broadband households.

Latest Ratings for NFLX

DateFirmActionFromTo
Oct 2020OppenheimerMaintainsOutperform
Oct 2020WedbushMaintainsUnderperform
Oct 2020BenchmarkMaintainsSell

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