By Eric Savitz, Blogger and Columnist, Barron’s, Tech Trader Daily
Netflix (NFLX) shares are taking a hit today from negative comments by Lazard Capital analyst Barton Crockett, who lowered his rating on the stock to Sell from Hold, with a $41 price target. The stock closed yesterday at $53.96.
Crockett writes that he sees “noise potential” in the company’s Q4 results, and says there are “reasons to question Netflix’s ability to meet expectations for continued torrid growth.”
Crockett notes that in an appearance on CNBC yesterday, CEO Reed Hastings hinted that the company at least hit the low-end of its subscriber guidance for Q4 of 12 million to 12.3 million. But the analyst also notes that new ComScore (SCOR) data “argues for performance at the low end of sub guidance.”
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