Citi raised the firm’s price target on Netflix to $675 from $660 and keeps a Neutral rating on the shares. The firm is updating its valuation following the company’s Q2 earnings beat while modeling a 30-times forward earnings multiple for the stock, along with the company’s position as an industry leader as well as its strong growth profile, the analyst tells investors in a research note.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NFLX:
- Netflix’s (NASDAQ:NFLX) Basic Tier Coming to an End, Shareholders Displeased
- Netflix price target raised to $770 from $717 at BMO Capital
- Netflix price target raised to $695 from $685 at Macquarie
- Notable open interest changes for July 19th
- Pivotal Research reiterates ‘Street High’ $800 price target on Netflix after Q2