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Why Netflix Shares Are Soaring Today

TheMotleyFool

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Shares of Netflix (NASDAQ: NFLX) rose as much as 5.4% on Wednesday, setting new all-time highs in the process. The video-streaming veteran's stock price was boosted by bullish actions from two analyst firms.

Canaccord Genuity analyst Michael Graham reiterated his "buy" rating on Netflix shares and raised his price target from $500 to $550. Bank of America Merrill Lynch added the stock to its "U.S. 1" list of top-quality investment ideas. Further details on these analyst reports were not available at press time.

Image source: Getty Images.

Source Fool.com

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