In a report published Wednesday, Morgan Stanley reiterated its Overweight rating and $85.00 price target on Netflix NFLX.
Morgan Stanley noted, “Netflix's domestic business is very capable of supporting valuation at current levels. Any incremental decrease in churn will drive much lower revenue volatility as well as margin expansion. While international is driving the consolidated business to breakeven levels, we believe there is real option value in the global story.”
Netflix closed on Tuesday at $66.05.
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