Netflix: shares rise after Deutsche Bank upgrade
(CercleFinance.com) - Shares in Netflix, the American provider of on-demand streaming videos, rose on Friday after Deutsche Bank analysts upgraded their rating on the stock from "hold" to "buy," hugely increasing their target price for the share from 240 dollars to 350 dollars.
Netflix shares were up 1.9% at 315 dollars in early trading today.
The Deutsche Bank team said they have liked Netflix's secular growth story for some time, but have "struggled with valuation."
What's evolved is that Netflix has now changed the industry in such a profound way that it will become very difficult for the traditional media companies, or even other big tech companies, to catch up with the group's lead, Deutsche analysts wrote.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Netflix shares were up 1.9% at 315 dollars in early trading today.
The Deutsche Bank team said they have liked Netflix's secular growth story for some time, but have "struggled with valuation."
What's evolved is that Netflix has now changed the industry in such a profound way that it will become very difficult for the traditional media companies, or even other big tech companies, to catch up with the group's lead, Deutsche analysts wrote.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.