Netflix Shares Rally After Pacific Crest Boosts its Rating (NFLX)
Shares of Netflix Inc. (NASDAQ: NFLX) climbed about 5.5% to $190.61 in afterhours trade on Tuesday after Pacific Crest boosted up its price target on the stock to $225 from $160.
In a note to clients, analyst Andy Hargreaves wrote “increased margin and subscriber assumptions” as the main driver for the move, predicting that the company’s U.S. streaming business will reach 36 million subscribers by the end of 2015.
“Netflix’s huge database of subscriber viewing habits should allow it to invest in original content where it will be most effective, while purchasing third-party content across an array of genres that can attract an extremely large audience,” he added.
The Upgrade comes after several other Wall Street firms raised their rating on the stock after the internet streaming company posted surprise fourth quarter profits, thanks to its expanding subscribers’ base.
Back then , Barton Crockett, an analyst at Lazard Capital lifted rating on the stock to “buy” from “neutral” and set a price target of $200, citing that company’s fourth quarter results showed that it can add customers who want access to more services on top of cable TV subscriptions.
Besides, Raymond James analyst Aaron Kessler boosted his rating on Netflix to “market perform”, or “neutral”, from “underperform” ; J.P. Morgan analyst, Doug Anmuth rated Netflix’s stock as “overweight” up from neutral while Tim Nollen at Macquaire upwardly revised his rating on the stock to” neutral” from “underperform”.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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