Netflix Price Target Cut at Raymond James, Strong Buy Maintained
Netflix reports earnings after the closing bell on Wednesday. Analysts expect third-quarter profit of $1.03 a share.
Raymond James cut its price target on Netflix (NFLX) - Get Report to $415 from $450 and maintained its strong buy rating.
The price target implies a 47% increase from the online streaming company's price Friday at around $283.
Netflix is expected to report third-quarter earnings after the closing bell on Wednesday.
Analysts surveyed by FactSet forecast earnings of $1.03 a share on sales of $5.25 billion. The company forecast third-quarter earnings of $1.04 a share on sales of $5.25 billion, up from year-earlier earnings of 89 cents a share on sales of $4 billion.
The stock rose 1.1% in trading Monday to $286.
