NFLX: New Price Target Set for Netflix Stock

by Christopher Freeburn | April 7, 2014 12:08 pm

On Monday, Oppenheimer raised its rating[1] for Netflix (NFLX[2]) stock.

In a research note, Oppenheimer boosted its outlook on NFLX stock from “Market Perform” to “Outperform.” Oppenheimer has set a  $419 price target for NFLX shares. That’s more than 24% above Friday’s closing price of $337.31 for NFLX shares, Zolmax notes.

Other analysts have taken mixed views on NFLX stock. Last month, CRT Capital — which rates Netflix stock as a “Buy” — upgraded its price target for NFLX stock from $476 to $505 per share. However, Zacks cut their rating on NFLX stock from “Outperform” to “Neutral.”

NFLX stock rose about 1% in Monday morning trading. NFLX shares have more than doubled over the last 12 months.

Netflix recently made a deal with cable and Internet service provider Comcast (CMCSA[4]) to pay fees to ensure that NFLX subscribers don’t experience data traffic problems[5] when streaming content on Comcast’s network. Other ISPs have indicated they expect the streaming service to make similar deals with them.

More Netflix News:

• The 5 Best New Movies on Netflix for Kids[6]
• What’s Up with Netflix Streaming Speeds on Verizon?[7]
• Good News Netflix Junkies! NFLX Plans to Spend Billions on Content in 2014[8]

Source URL: https://investorplace.com/2014/04/nflx-new-price-target-set-netflix-stock/

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