Netflix: shares fall as broker cuts target
(CercleFinance.com) - Netflix shares are currently down 3.
2% at 259.2 dollars, ending the year down 3.5% in 2018 (-32% over the last three months), with a broker cutting its target price for the stock.
In a note, SunTrust said that it is cutting its target price for the video streaming company from 410 dollars to 355 dollars, citing data pointing to fourth-quarter subscriber adds that are slightly below the consensus and guidance.
However, the broker maintains its "buy" rating on the share, with content slate strengthening into mid-year.
SunTrust also said that it appreciates the forthcoming appointment of Activision Blizzard's Spencer Neumann as the group's next CFO, as featured in press reports today.
Copyright (c) 2019 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.
2% at 259.2 dollars, ending the year down 3.5% in 2018 (-32% over the last three months), with a broker cutting its target price for the stock.
In a note, SunTrust said that it is cutting its target price for the video streaming company from 410 dollars to 355 dollars, citing data pointing to fourth-quarter subscriber adds that are slightly below the consensus and guidance.
However, the broker maintains its "buy" rating on the share, with content slate strengthening into mid-year.
SunTrust also said that it appreciates the forthcoming appointment of Activision Blizzard's Spencer Neumann as the group's next CFO, as featured in press reports today.
Copyright (c) 2019 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.