Netflix Makes New All-Time High After Price Target Raise

Netflix, Inc. NFLX shares are trading higher by $5.45 (3.7 percent) at $163.20 in Thursday's session.

A catalyst for the rally is Piper Jaffray's reiteration of an Overweight rating and price target raise from $166.00 to $190.00.

After a higher open, Netflix had a brief 45-cent retreat to $160.55 before continuing its move higher. Once it surpassed its former all-time high of $161.78, the pace of the rally of the rally accelerated.

The stock has continued to make new highs for the session, with the current one at $163.48 as of 11:05 a.m. EST.