Netflix (NFLX) Surges On Lehman Bros Upgrade
Tweet
Share
E-mailGet Alerts NFLX Hot Sheet
Join SI Premium – FREE
Shares of Netflix (Nasdaq: NFLX) are up 9% in early action today after Lehman Brothers raised its rating on the company from Equalweight to Overweight and boosted its price target from $31 to $37 per share.
The firm sees continued momentum in DVD-by-mail trends and expects the company to add about 194,000 new customers in the second quarter. The firm said Netflix will continue to benefit from the favorable competitive landscape with Blockbuster (NYSE: BBI).
The firm raised Q2 EPS estimates from $0.39 to $0.40 and FY from $1.24 to $1.26, the consensus is $0.40 and $1.24, respectively.
Netflix also announced the introduction of The Netflix Player by Roku this morning. The device enables Netflix subscribers to instantly stream a growing library of movies and TV episodes from Netflix directly to the TV. The devices is attractively priced at just $99.
The firm sees continued momentum in DVD-by-mail trends and expects the company to add about 194,000 new customers in the second quarter. The firm said Netflix will continue to benefit from the favorable competitive landscape with Blockbuster (NYSE: BBI).
The firm raised Q2 EPS estimates from $0.39 to $0.40 and FY from $1.24 to $1.26, the consensus is $0.40 and $1.24, respectively.
Netflix also announced the introduction of The Netflix Player by Roku this morning. The device enables Netflix subscribers to instantly stream a growing library of movies and TV episodes from Netflix directly to the TV. The devices is attractively priced at just $99.
Create E-mail Alert Related Categories
Insiders' BlogRelated Entities
Lehman BrothersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
