Loop Capital downgraded Netflix (NFLX) to Hold from Buy with a price target of $950, up from $800. The firm says Netflix “has rarely, if ever, looked better positioned than it does currently.” The company should add over 30M subscribers this year, its revenue has returned to mid-teens growth, and it should report a “monster” Q4 sub gain, the analyst tells investors in a research note. However, Loop points out the stock is trading at historically high valuation multiples. As such, the shares are Read More...
Loop Capital downgraded Netflix (NFLX) to Hold from Buy with a price target of $950, up from $800. The firm says Netflix “has rarely, if ever, looked better positioned than it does currently.” The company should add over 30M subscribers this year, its revenue has returned to mid-teens growth, and it should report a “monster” Q4 sub gain, the analyst tells investors in a research note. However, Loop points out the stock is trading at historically high valuation multiples. As such, the shares are now approaching fair value, the firm contends.
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