Netflix bulls on Wall Street unfazed by mixed results — research wrap

Key Points
  • Wall Street analysts generally reiterated their bullish and bearish ratings on Netflix after the company reported first quarter earnings Monday.
  • Approximately 60 percent of firms have buy ratings on the company, according to FactSet.
Netflix CEO Reed Hastings delivers a keynote address in front of an image of actor Kevin Spacey from "House of Cards" during CES 2016 in Las Vegas.
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Netflix bulls on Wall Street were unfazed by mixed first-quarter financial results from the video streaming company even after the shares were down 2 percent midday Tuesday in response to the report.

About 60 percent of Wall Street analysts still have buy ratings on Netflix, according to FactSet.

Below is a summary of what Wall Street firms are now telling clients to do with the stock.

Goldman Sachs

Goldman analyst Heath Terry reaffirmed his buy rating on Netflix and $170 price target for the shares, representing 15 percent upside from Monday's close.

"With ~20 percent growth in content spend (est.) this year, a growing distribution ecosystem and expanding addressable base, we believe that Netflix remains on track in building out an unmatched global entertainment platform."

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