Rosenblatt Trims Netflix Price Target After 10-for-1 Stock Split Update
Rosenblatt Securities reduced its price target on Netflix (NASDAQ: NFLX) to 153, while reiterating a Buy rating. The adjustment stemmed primarily from maintenance updates to the firm’s financial model, including the impact of Netflix’s 10-for-1 stock split, which took effect after markets closed on November 14. Minor updates to share counts, price levels, FX assumptions and debt reduced the split-adjusted target by $1. Rosenblatt maintained its bullish stance, arguing Netflix could trade at a 45x ...