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Stock impact report

Netflix stock gets a new Street-high price target of $500 [MarketWatch]

Netflix, Inc. (NFLX) 
Last netflix, inc. earnings: 4/21 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
Company Research Source: MarketWatch
BMO Capital Markets analyst Daniel Salmon raised his price target on Netflix Inc.'s stock to $500 from $450 Friday, with his new target now the highest among analysts tracked by FactSet. "We believe the company has both plenty of liquidity in the short-term, but also the benefit of rising revenue and falling cash costs as live production remains at a standstill," Salmon wrote in a note to clients. He raised his 2020 free-cash-flow estimates based on the expectation for reduced content spending but lowered his 2021 estimates for the metric on the assumption that much production will pick up then. "But 2022-2030 FCF rises as we believe accelerating changes to the ecosystem will help rationalize content spending sooner (winners win earlier)." The price-target change comes as Netflix is due to report first-quarter earnings Tuesday afternoon. Shares are off 4.4% in Friday trading after Benchmark Research initiated coverage of the stock at sell, arguing that newly furloughed or laid-off wor Show less Read more
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