Seeking Alpha

Evercore upgrades Netflix; shareholders reject chairman/CEO split

  • Evercore has upgraded Netflix (NFLX) to Overweight after the bell. The firm upgraded Netflix to Equal Weight last October, when shares were at $355. It launched coverage at Underweight the prior April, when shares were at $169.
  • Separately, shareholders have rejected a non-binding proposal calling for the chairman and CEO roles (both currently held by Reed Hastings) to be split by a 53/47 margin. Hastings was re-elected to Netflix's board by a 74/26 margin.
  • NFLX +0.5% AH.
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Comments (5)
  • Esekla
    , contributor
    Comments (3581) | Send Message
     
    "Evercore.. upgraded Netflix to Equal Weight last October, when shares were at $355. It launched coverage at Underweight the prior April, when shares were at $169."

     

    Yeah, there are some sell-side analysts out there that actually function pretty well as *contrarian* indicators.
    9 Jun 2014, 07:19 PM Reply Like
  • cynicexcellence
    , contributor
    Comments (626) | Send Message
     
    This really is classic, isn't it? Let me guess. They will downgrade the stock to equal weight when it hits $350.
    9 Jun 2014, 07:28 PM Reply Like
  • Axios
    , contributor
    Comments (3) | Send Message
     
    Evercore figures they'll be right on Netflix one of these years
    9 Jun 2014, 09:36 PM Reply Like
  • Doc's Trading
    , contributor
    Comments (1671) | Send Message
     
    NFLX.... We have been stopped out on our short sale at 430.00 at 428.10 for another but small gain...this was our 48th straight gain since our arrival on this forum in late February....
    more later....
    10 Jun 2014, 01:47 PM Reply Like
  • Bob 88
    , contributor
    Comments (50) | Send Message
     
    The recommendations from the stock analysts are meaningless. One analyst upgrades while the other downgrades. Who should you follow? Just flip a coin if you are not serious. Otherwise, do your own homework before investing.
    10 Jun 2014, 06:39 PM Reply Like
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