Netflix survey results positive into Q2 print, says Wedbush

Wedbush analyst Michael Pachter tells investors in a research note that the firm believes Netflix can generate significantly more free cash flow than its guidance suggests. The analyst, who reiterated the Outperform rating and said Netflix remains on Wedbush’s Best Ideas list, thinks Netflix is well-positioned in this murky environment as streamers are shifting strategy, and should be valued as an immensely profitable, slow-growth company. Its ad-supported tier and password sharing crackdown should further boost cash generation, the firm contends.