《大行報告》瑞銀上調Netflix(NFLX.US)目標價至350美元 評級「中性」
瑞銀發表研究報告指出,預期Netflix(NFLX.US)第四季將重新加速增長,但新舉措仍需時擴大規模,料在內容豐富及季節性因素下,新增450萬訂閱用戶,與管理層預期一致,而相對於第三季增加240萬訂閱用戶,2021年第四季新增830萬訂閱用戶。
該行認為,隨著Netflix管理層不再提供新增訂閱用戶的指引,關注重點再落於首季的收入及EBIT指引上,該行料公司收入增長4.3%,EBIT增長5.4%,毛利率增長90點子。預期在限制用戶共享帳號密碼方面將有更多細節釋出,雖然將增加收入,但可能會導致客戶流失。
此外,該行將Netflix目標價由250美元上調至350美元,評級「中性」,並對公司今年預測作出上調,料全年收入由原預期的增長5.8%,增加至升8.2%,EBIT原預期增長6.2%,增加至升13%,至於市場預期各升7.4%及13%;料毛利率上調80點子。
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