... has anybody heard from Ingrid Chung at Goldman Sachs? ... After Netflix's disastrous Q2 and weak Q3 guidance in July, Chung waxed bullishly, not only reiterating a buy rating and her $330 price target, but raising EPS estimates from 2011 through 2013.
Before you read this next sentence, call some family, friends or co-workers over to your computer screen, because there's nothing like sharing a laugh with others around the holidays. For 2012, Chung predicted Netflix would post EPS of $7.69.Why does this happen? Are these analysts as incompetent as politicians? Maybe. Or do they have ulterior motives? We don't know. That's the problem. Many sell-side analysts are not straightforward propositions. The clock ticks on their usefulness.