Netflix Higher Off Jefferies Upgrade

Netflix, Inc. NFLX shares are trading higher by $1.00 at $144.19 in Tuesday's session. The catalyst for the rally is an upgrade from Jefferies and a raised price target from $95.00 to $135.00.

Traders and investors buying the issue on this news may not realize the analyst change is coming when the issue is already $45.00 from the analyst's former target price and nearly $10.00 above its adjusted price target.

After a higher open, Netflix's stock retreated but found support just above Tuesday's close ($143.19), only reaching $143.23 before resuming its move higher. So far, the ensuing rally has come up shy of its all-time-high from February 13 ($145.95) as $144.70 stands as the high for the session.

In order to post a new all-time closing high, it would need to end the session above its February 10 close of $144.82.