On Monday, Oppenheimer raised its rating for Netflix (NFLX) 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) to pay fees to ensure that NFLX subscribers don’t experience data traffic problems when streaming content on Comcast’s network. Other ISPs have indicated they expect the streaming service to make similar deals with them.
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