(News Bulletin 247) – Wedbush maintains its Outperformance rating on the Netflix stock and its price target of $410.
Netflix is on Wedbush’s list of top ideas: ‘We believe the business can generate significantly more free cash flow than its forecast suggests.’
For the analyst, Netflix has hit the right formula with its overall content to balance costs and generate growing profitability. “Its advertising support component and crackdown on password sharing should further boost cash generation,” he continues.
“We believe that Netflix is well positioned in this troubled environment where broadcasters are changing strategy, and that it should be valued as a hugely profitable, slow-growing company,” added the broker.
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