Netflix Shares Advance On Bullish Analyst Comments

NEW YORK (AP) — Netflix Inc. shares advanced Wednesday as analysts grew more bullish about the company's potential to expand profit margins and take more customers from competitors in the DVD rental market.

"The company continues to attract customers from brick and mortar chains, and continues to retain customers by offering its unique streaming proposition," Wedbush Morgan analyst Michael Pachter said in a client note, upgrading shares to "Buy" from "Hold."

Besides mail delivery, Los Gatos, Calif.-based Netflix allows subscribers to stream a selection of films over the Internet. The company's model has left rival Blockbuster Inc., with its chain of traditional rental stores, struggling to keep up. ...