Netflix price target cut to $925 at Loop Capital on higher assumed discount rate

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.