Loop Capital lowered the firm’s price target on Netflix (NFLX) to $925 from $950 and keeps a Hold rating on the shares. The firm notes that the company’s move into sports has come much quicker than most anticipated, and it expects Netflix to be awarded an NFL weekly package deal within the next five years. Loop adds however that its price target cut is driven by a higher discount rate embedded in its model.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NFLX:
- Netflix upgraded, AMD downgraded: Wall Street’s top analyst calls
- Is Netflix Stock (NASDAQ:NFLX) a Buy Ahead of its Q4 Earnings?
- Netflix upgraded to Buy at Seaport Research, price target $955
- Netflix earnings expectations stay buoyant, says Citi
- Closing Bell Movers: Sezzle adds 18% afterhours after pre-announcement