Netflix stock rises after Deutsche Bank upgrades to buy

Discussion in 'Market News' started by sniper-academy, Apr 13, 2018.

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  1. sniper-academy

    sniper-academy Administrator Staff Member

    Sep 30, 2011
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    Shares of Netflix Inc. are up 2.5% in Friday morning trading after an upgrade at Deutsche Bank. "What's evolved with respect to our view on the stock is that Netflix has changed the industry in a profound way and in doing so has given itself a significant lead, making it very difficult for the traditional media companies, or even other big tech companies, to catch up," wrote Deutsche Bank analyst Bryan Kraft, who raised his rating on the stock to buy from neutral. "Netflix's lead and competitive advantage give the company more levers than ever to pull in order to drive revenue and cash flow growth over the course of time." Kraft wrote that consensus estimates for Netflix's net subscriber additions over the next two years look conservative, as does Netflix's own outlook for the first quarter, which it's due to report results for on Monday. Kraft raised his price target to $350 from $240. Netflix shares are up 116% over the past 12 months, while the S&P 500 [S; spx] has gained 14%.

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