Shares in Netflix rose Monday after Wall Street analysts MoffettNathanson lifted its rating to buy, from neutral, and set a $1,100 price target.
MoffettNathanson’s Robert Fishman in a March 17 investor note cited Netflix’s efforts to boost earnings from advertising as grounds for optimism. “We are now at another unique moment in Netflix’s history with the company starting to gain scale in advertising, which should unlock a new runway of growth in the business for years to come,” the analyst argued.
Stock in Netflix rose $36.75, or around 4 percent, to $954.75 during brisk mid-morning trading on Monday. Fishman writing about a “new runway of growth” followed the analyst earlier in March moving Netflix shares to the downside by writing in a March 6 investment note that the streaming giant turning password-borrowers into paying subscribers for revenue growth had possibly run its course.
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