Here’s What Analysts Had to Say About These Trending Stocks

Benjamin Swinburne of Morgan Stanley defended Netflix, Inc. (NASDAQ:NFLX) on Wednesday, saying that the impact of subscriber-losses by ‘un-grandfathering’ will peak in the third quarter. Although the analyst acknowledges that Amazon.com, Inc. (NASDAQ:AMZN) remains a strong competitor in terms of both consumers and content, Swinburne has an ‘Overweight’ recommendation and a $110 price target on Netflix. Separately, Doug Anmuth of JPMorgan trimmed his price target on Netflix to $122 per share from $125 on Friday, as he lowered his average selling price forecast for 2017 and also raised the company’s estimated investment spend in his model. Of the 749 hedge funds that we track which filed 13Fs for the June quarter, 54 owned $3.73 billion in Netflix, Inc. (NASDAQ:NFLX) shares on June 30, well below the 64 funds with $6.66 billion in Netflix holdings on March 31.

Various analysts chimed in on Tractor Supply Company (NASDAQ:TSCO) after the company acquired Petsense for around $116 million. Michael Lasser of UBS likes the purchase, as he thinks the deal “plants a seed” for further growth in the specialty pet sector in the long run. Although Lasser doesn’t believe the purchase will impact Tractor Supply’s near-term financials all that much, the analyst did lower his price target on the stock to $80 from $88 due to anticipated macro and weather headwinds. On the opposite side is Brian Nagel of Oppenheimer, who thinks that TSC’s management should be focusing on its core business rather than buying other companies. Nagel nevertheless likes the purchase in the long run and also has an ‘Outperform’ rating and $80 price target on the stock. 29 funds tracked by Insider Monkey were shareholders of Tractor Supply Company (NASDAQ:TSCO) at the end of June.

With its shares near their 52-week high and PC shipments apparently stronger-than-anticipated, it’s not surprising that Intel Corporation (NASDAQ:INTC) has some sell-side fans. Count Wells Fargo as one of them, as the bank has a ‘top pick’ rating and a $40-to-$50 price target on the stock. The firm thinks that Intel’s September quarter and guidance for the December quarter could benefit from a number of potential positive catalysts, including demand momentum at Intel’s Data Center Group, and brisk PC sales. 57 funds were also bullish on Intel Corporation (NASDAQ:INTC), owning shares of the company on June 30.

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