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Piper Jaffray on Netflix: Q4 guidance bakes in new competition

On Thursday, a slew of Wall Street analysts reacted to Netflix's third-quarter earnings results, with many focusing on the company's efforts to tackle competition as rivals launch new platforms. Piper Jaffray analysts expect Netflix to continue to capture a significant portion of traditional content dollars as they migrate to streaming, while reiterating their overweight rating and lowering their price target to $400. The Final Round panel discusses in the "Call of the Day" segment.