Why Netflix Stock Is Surging Today
Shares of Netflix (NASDAQ: NFLX) jumped on Friday as two prominent analyst firms issued favorable reviews of the media-streaming veteran's stock. As a result, Netflix was up by 5.6% at 12:30 p.m. ET. That's the highest price the shares have seen since the earnings-based drop on April 20.
Wells Fargo analyst Steve Cahall upgraded Netflix stock from equalweight to overweight, suggesting that the bank's clients now should expect Netflix to outperform the market over the next year or so. Cahall's target price for this stock now stands at $400 per share, up from $300 per share and 29% above Thursday's closing price.
Separately, Cowen analyst John Blackledge reiterated his outperform rating on the stock while lifting the price target from $340 to $405 per share. Blackledge puts Netflix among his "best ideas for 2023."
Source Fool.com
