Jim Cramer -- Investors Should Take Long-Term View on Netflix
Shares of Netflix (NFLX) - Get Report climbed 5% Friday after analysts at Canaccord Genuity initiated coverage with a buy rating and $120 price target.
This has investors excited, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.
"I like this because it is a long-term story," he said of the research report. The analysts are bullish on Netflix's sustainable subscriber growth over the medium and long term, although they did say there is uncertainty over the next two quarters, Cramer explained.
That should be good news for investors, he added. According to this note, they shouldn't expect great things in the next quarter or two, but shouldn't panic on disappointment either. Instead, take a long-term view with Netflix.
Shares of Netflix have struggled in 2016, down 16%, but are up 2.5% over the past 12 months.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.