Netflix added to Best Ideas List at Wedbush

Wedbush added shares of Netflix to the firm’s Best Ideas List, as Netflix’s Q1 results underscore its ability to generate significantly more free cash flow than its guidance suggests. Wedbush thinks it has reached the right formula with its global content to balance costs and generate increasing profitability, while its ad-supported tier and password sharing crackdown should further boost cash generation. Further, the firm believes Netflix is well-positioned in this murky environment as streamers are shifting strategy, and should be valued as an immensely profitable, slow-growth company. Wedbush has an Outperform rating on the shares with a price target of $410.