Citi is out with its report today on Netflix NFLX, raising its PT from $210 to $245.
In a note to clients, Citi writes, "Based on new disclosures, we've revamped our model. We're extrapolating from record domestic rev, subs & margin trends and
estimating peak $100MM International losses in '12. Non-GAAP EPS goes from $5.93
to $6.62. $245 PT based on 37x our '12 Non-GAAP EPS."
Citi maintains Hold on NFLX.
At the time of posting, shares of NFLX were trading pre-market at $240.24, down 4.54% from Monday's close.
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