HALISTER: Netflix Cut at Jefferies on Domestic Subscriber Growth Concerns

Netflix Cut at Jefferies on Domestic Subscriber Growth Concerns

(Bloomberg) -- Netflix’s domestic subscriber growth trajectory may be flatter than Street expectations, Jefferies analyst John Janedis writes in note.
  • Janedis assumes coverage from Brian Fitzgerald and downgrades to underperform from hold, PT to $80 from $120
  • Hulu and Amazon will make the U.S. market much more competitive in the next 5 years
  • Jefferies estimates NFLX will reach 58.3m paid domestic streaming subs by 2020 vs NFLX’s long term target of 60m-90m
  • NFLX falls 2.5% pre-market on 13k shares; rose 1.3% yesterday after Comcast let NFLX onto its X1 platform
  • NOTE: Yesterday, Netflix Downgraded at Needham on International Growth Risks
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
NFLX US (Netflix Inc)
3276470Z US (Hulu LLC)

People
John Janedis (Jefferies LLC)
Brian Fitzgerald (Jefferies LLC)

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