Netflix Gains on Analyst Upgrade Ahead of Earnings
Netflix was upgraded to hold from sell by Deutsche Bank.
Green is the new black for Netflix (NFLX) - Get Report Friday after analysts at Deutsche Bank upgraded the stock ahead of the company's earnings release next week.
Analysts at Deutsche expect Netflix to report better-than-expected fourth-quarter results. Despite the positive outlook, the firm only raised Netflix's rating to hold and increased its price target to $110 from $92, still 15% below the company's closing price Thursday.
When Deutsche initiated coverage on the stock with a sell rating three months ago, the firm said that Netflix's valuation was two years ahead of its fundamentals. Netflix is scheduled to release its quarterly results after the closing bell on Jan. 18.
