Scalper1 News
The sky’s the limit for Netflix (NFLX) stock, based on a report Friday from investment bank Oppenheimer & Co. Oppenheimer analyst Jason Helfstein on Thursday raised his 12-18 month price target on Netflix stock to 775 from 610 and maintained an outperform rating. Netflix stock is up 94% this year through Thursday’s close. It started the year at 341.61. It blew past 500 on April 16 and then smashed through 600 on May 15. In afternoon trading Friday, Netflix was down a fraction, near 661. In a research report, Helfstein said he increased his price target on the subscription Internet television service based on its aggressive international expansion plans. “We estimate Netflix’s five oldest markets — U.S., Canada, Brazil, U.K. and Ireland — will end 2015 at an average broadband penetration rate of 30%,” Helfstein said. “Our revised model now assumes 2020 global subscribers at 239 million, or 32% penetration of broadband homes.”… Scalper1 News
Scalper1 News