Netflix "hold," target price reduced

05/02/07 - Jackson Securities

NEW YORK, May 2 (newratings.com) - Analysts at Jackson Securities maintain their "hold" rating on Netflix (NFLX). The target price has been reduced from $23 to $21.

In a research note published yesterday, the analysts mention that the company has reported its revenues in-line with and EPS ahead of the estimates for 1Q07. Netflix has reduced its guidance for future revenues and subscriber additions, citing competition from the Blockbuster Total Access plan. The subscriber addition estimate for 2Q07 has been reduced by more than 300,000, the analysts say.