Netflix price target lowered to $94 from $105 at Rosenblatt

Rosenblatt lowered the firm’s price target on Netflix (NFLX) to $94 from $105 and keeps a Neutral rating on the shares. Netflix’s Q4 results were slightly better than the firm had estimated, but guidance was “a tad light” and disclosure of a subscriber benchmark that shows adding about 25M subs in 2025 to pass 325M in Q4 appears to be a little below the 329M the firm had assumed, the analyst tells investors. The firm notes that its price target does not presume completion of the Warner Bros. Discovery (WBD) merger as it still expects “the Ellisons to dig into their pockets and ultimately outbid Netflix.”