Netflix is a name that we all know and love but not as much as the people that are making good money off of the company. Tuesday shares of Netflix Inc got a boost after a Credit Suisse analyst upgraded the online movie rental company following a recent drop. They said any perceived risk around the rising competition in the movie streaming space is now “more fully reflected” in shares.
Analyst John Blackledge Netflix to “Outperform” from “Neutral” and further said that he does not expect a material effect on the company Netflix because of Amazon’s new movie streaming service. Amazon offers this service to its premium members if they pay $79 a year for free or low-cost shipping on their orders.
Last month Netflix hit an all-time high of $247.55 before giving up some ground. Share action: Up $9.04, or 4.2%, to $221.88 in late trading.
Sources : Wagerrun.com