Netflix (NFLX) Bear Thesis Losing Credibility - Raymond James

Raymond James analyst, Justin Patterson, reiterated his Strong Buy rating on shares of Netflix (NASDAQ: NFLX) and raised his price target to $470 from $450 on 4 key points:

1) International is ramping

2) global distribution is a material advantage

3) share gains in media/entertainment are increasing

4) there are clear LT profit vectors (e.g.,pricing, margins)

The analyst stated "With revenue growth poised to accelerate, margin expansion in 2H19E, and FCF burn moderating in 2020E and beyond, we struggle to see the bear thesis".

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $346.27 yesterday.

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