Why Netflix Stock Charged Higher on Monday
Shares of Netflix (NASDAQ: NFLX) jumped on Monday, surging as much as 10.4%. As of 2:06 p.m. ET today, the stock was still up 10%.
The catalysts that drove the streaming pioneer higher were not one but two upgrades courtesy of Wall Street's finest and word that the co-CEO has been loading up on shares.
Citi analyst Jason Bazinet upgraded Netflix stock to buy from neutral (hold), while simultaneously adjusting the firm's price target down from $595 to $450. For context, that would represent roughly 17% gains for investors compared to Friday's closing price.
Source Fool.com
