Why Netflix Stock Rose Today
Shares of Netflix (NASDAQ: NFLX) have risen today, finishing with gains of 3%, after several Wall Street analysts released bullish research notes ahead of the company's first-quarter earnings release next week. The stock set fresh all-time highs.
No fewer than three firms -- Pivotal Research, Cowen, and Stifel -- reiterated buy ratings today while increasing their price targets. Pivotal boosted its price target from $425 to $490, the highest on Wall Street, as analyst Jeffrey Wlodarczak increased his estimates for subscriber additions due to stay-at-home orders around the world related to the coronavirus outbreak. "We believe the unfortunate COVID-19 situation is cementing NFLX's global [direct-to-consumer] dominance partly driven by the incremental content spend that is enabled by their massive and growing subscriber base," the analyst wrote.
Image source: Netflix.
Source Fool.com
