Shares of Netflix (NFLX) - Get Report were higher Thursday after analysts with William Blair upgraded their rating on the stock. The analyst team upgraded the stock of the video streaming service to OUTPERFORM from MARKET PERFORM. They said in a research note today that the stock has upside potential of roughly 50 percent. The William Blair analysts believe that the millennial demographic shift is underappreciated as Netflix's nearly 70-million nonpaying, younger users will transition to ages at which they become more likely to pay for Netflix. They estimate the company could add 5.3 million domestic subscriptions by 2020 through this demographic shift alone.
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William Blair or an affiliate is a market maker in the security of Netflix, Inc. William Blair or an affiliate expects to receive or intends to seek compensation for investment banking services from Netflix, Inc. within the next three months.