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Netflix -2% after SunTrust reels in high-flying price target

Published 01/02/2019, 07:48 AM
NFLX
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  • Netflix (NASDAQ:NFLX) tracks lower on the first trading day of the year after SunTrust Robinson Humphrey drops its stock price target to $355 from a prior mark of $410.
  • The analyst team thinks "meaningful" Q4 upside looks unlikely and adjusts its model for higher rates and lower comp multiples. A Buy rating on Netflix is kept in place on expectations for a strong mid-year content slate.
  • Earlier today, Netflix pulled a show in Saudi Arabia due to complaints from officials in the kingdom.
  • NFLX -2.10% premarket to $262.00 vs. a 52-week trading range of $195.42 to $423.21.
  • Now read: Netflix's Bollywood Romance


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