Netflix jumps on upgrade by Deutsche Bank

Tuesday, 16. April 2019 16:50

Netflix Inc. took back on Tuesday most of the losses from the previous two trading sessions and reached $358.53 per share. The streaming titan outperformed peers from the so-called FAANG group after Deutsche Bank's analyst Bryan Kraft boosted the target price by $40 to $400 per share. The technology company in strong expansion has a favorable risk-to-reward outlook, he added and highlighted the advantage in hiring top talent against competitors such as Disney, Amazon.com Inc, Hulu and HBO.

The journey toward "platform status" draws in users as "a cultural necessity," according to the note for investors, issued ahead of today's scheduled release of earnings for the first quarter.

Netflix rallied 2.45% to $357.42 per share at 10:35 am ET. It gained 33.54% so far this year, compared to the increase of 21.03% in the benchmark Nasdaq 100 index. Amazon climbed 0.7% to $1,857.84 after hitting $1,860 for the first time since October 9. Apple jumped 0.84% to $200.91 per share, near the highest mark in more than five months.

Related Links: Netflix Inc.Amazon.com Inc.
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Breaking the News / IT