Posted by: seanmalstrom | January 23, 2014

Netflix on Michael Pachter

Michael Pachter:

Netflix‘s stock price could plummet nearly $200 per share within the next quarter or two, Wedbush Securities analyst Michael Pachter said Monday.

From video (paraphrasing): “Netflix’s stock may drop this quarter but definitely will during the next.”

Source: CNBC July 2013

“They own nothing and they’ve acquired nothing,” says analyst Michael Pachter of Wedbush Securities who raised his price target on Netflix to $80 from $65 today but kept his “sell” rating.

For the record, Factset data shows Pachter is one of nine analysts who currently rate Netflix a sell, while the remaining 75% analysts rate it either hold or buy and have a median price target of $213.

Source: Yahoo July 2013

I must admit to being a bit lazy. Much to my surprise, Pachter has not been “wrong” all along while waiting to be “right” on NFLX. I fell into a trap of relying on less-than-informative sources to provide information I should have sought on my own.

For the record, Pachter did not ask me to write this article. I am doing so because I want to. And because I think the guy deserves a fair shake.* Pachter simply emailed me two of his past reports on NFLX, noting that he has not always had a sell rating on the stock. Really, though, it’s about more than one analyst. It’s about an attempt to provide investors with more than drive-by reporting. Some, particularly bulls, argue that I write about NFLX so much because I want to take it down and profit. First of all, I have only been short the stock one time, via puts. And, second of all, I don’t think I have power to take it down even if I wanted to. Truthfully, I think it’s an interesting story and, based on the debate here and elsewhere, others feel the same way. There’s nothing better than being even a small part of an interesting story.

Source: Seeking Alpha writer attempting to defend Pachter. May 2011

Wedbush maintains an Underperform rating and $160 price target on Netflix (Nasdaq: NFLX) following the recent ISP regulation verdict, which is highlighted here.

Source: story with headline: “Netflix Could be Biggest Loser Following Net Netruality Decision- Analyst” January 15, 2014


Headline: Netflix Soars To All Time High After Hours On Small Beat; Unfazed By Net Neutrality




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