Netflix: shares jump after UBS raises target price.
(CercleFinance.com) - Shares in streaming video service Netflix are up almost 4% in a bearish US market on Wednesday, after UBS raised its target price for the share to 225 dollars (vs.
190 dollars previously), saying that Q3 guidance could appear "conservative."
UBS says it sees upside in Q3 guidance, based on the group's growth in subscribers, with broad-based year-on-year improvements across almost all markets.
"Based on the lackluster stock performance this quarter (-6% compared to second-quarter highs) and investor expectations for an in-line quarter, we see near-term upside to shares if our analysis proves accurate," the broker says, maintaining a "buy" rating on the shares.
The stock is currently up 3.6% at 185.6 dollars, while the Nasdaq Composite inded is down 0.1%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
190 dollars previously), saying that Q3 guidance could appear "conservative."
UBS says it sees upside in Q3 guidance, based on the group's growth in subscribers, with broad-based year-on-year improvements across almost all markets.
"Based on the lackluster stock performance this quarter (-6% compared to second-quarter highs) and investor expectations for an in-line quarter, we see near-term upside to shares if our analysis proves accurate," the broker says, maintaining a "buy" rating on the shares.
The stock is currently up 3.6% at 185.6 dollars, while the Nasdaq Composite inded is down 0.1%.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.