Why Netflix Stock Charged Higher Wednesday Morning
Shares of Netflix (NASDAQ: NFLX) jumped on Wednesday, surging as much as 7.1%. As of 11:55 a.m. ET, the stock was still up 6.7%.
The catalyst that drove the streaming pioneer higher was a Wall Street upgrade and news of another blockbuster hit.
Atlantic Equities analyst Hamilton Faber upgraded Netflix stock to overweight (buy) from neutral (hold), while simultaneously boosting his price target to $283, up from its former level of $211. This new higher price target represents potential gains for shareholders of 26% compared to Tuesday's closing price.
Source Fool.com
