Piper Jaffray Removes Netflix from Alpha List; Stockmasters See Buying Opportunity

4/22 - "Piper Jaffray removes Netflix (Nasdaq: NFLX) from its Alpha List, saying "our near-term catalyst, the Q1 earnings report, is now in the rearview mirror." The firm maintains its Buy rating and $45 price target on shares of Netflix."

"For Netflix shareholders, Piper called the "bottom line" the Company's ability to continually gain market share. The firm also believes Netflix will benefit from the adoption of Blu-ray. Piper said, "even with the lower gross margin, we expect 30%+ EPS growth in '08...Finally, Piper points out that Netflix has yet to dip into its $150 million buyback which was announced on March 6. The firm estimates that if Netflix were to buy $150 million in stock at current levels, it would add about $0.05 to its CY08 EPS estimate."

"Stockmasters, this could be a great buying opportunity for Netflix, especially in light of their $150 millio...