In a report published Wednesday, Stifel analyst Scott Devitt upgraded the rating on Netflix, Inc. NFLX from Hold to Buy, and named a $380.00 price target.
In the report, Stifel noted, “We are upgrading Netflix to a Buy rating with a $380 price target. While the company continues to experience a transition between slowing subscriber growth in the profitable U.S. segment and international expansion, we believe shares in the low-$300 range provide a compelling risk-to-reward ratio given the strong content cycle, reset expectations following a few quarters of lower subscriber net adds, and recent / upcoming international launches.”
Netflix closed on Tuesday at $323.79.
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