Netflix sell-off a buying opportunity, says Argus

Argus keeps a Buy rating and $1,410 price target on Netflix (NFLX) after its Q3 earnings miss and sell-off in the stock. The miss was wholly due to a one-time rather strange Brazilian tax charge that has essentially nothing to do with the company’s underlying business, the analyst tells investors in a research note. Netflix’s value proposition vs. other entertainment options remains intact, as does its place as the largest long-form video streamer, the firm added.