Stifel Nicolaus Maintains Hold on Netflix

Stifel Nicolaus is out with its report today on Netflix NFLX, maintaining Hold. In its report, Stifel Nicolaus writes, "We maintain our Hold rating on shares of Netflix, which currently trade at an EV multiple 14.6x our 2012 adjusted EBITDA estimate of $848.3 million. We have not adjusted estimates resulting from the Starz news as we expect Netflix to replace Starz content with other content buys, preserving subscriber and revenue growth and earnings power. The Starz announcement coupled with recent share price weakness may provide an impetus for a more constructive outlook on the shares." At the time of posting, shares of NFLX were trading at $209.82, down 10.05% from Thursday's close.