Netflix Analysts Boost Stock Price Targets Despite Subscriber Shortfall
Reading now: 824
hollywoodreporter.comGlobal streaming giant Netflix may have added fewer subscribers during the third quarter than forecast after an early-year coronavirus pandemic-driven growth spurt, but several analysts on Wednesday raised their stock price targets on the company, telling investors to look beyond the quarterly figures.
Before Wednesday's stock market open, the stock was trading down 5.5 percent at $496.62 as of 8:25 a.m. ET. BMO Capital Management analyst Daniel Salmon, who has an "outperform" rating on the stock, increased his stock price target from $625 to a Wall Street high of $700, touting, in his report's title, "The End of Free Cash Flow Losses." Netflix, led by co-CEOs Reed Hastings and Ted Sarandos, has long reported such losses amid investment in.
Read more on hollywoodreporter.com
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
