Why Netflix Stock Jumped 5% Higher Today
Netflix (NASDAQ: NFLX) shares surged on Tuesday thanks to a rosy analyst report. The video-streaming giant's stock rose as much as 5.3% before retreating to a 5% gain at 3:30 p.m., EDT.
Mark Mahaney, a financial analyst at the Royal Bank of Canada (RBC), raised his price target on Netflix from $530 to $610 a share and reaffirmed his "outperform" rating on the stock. Mahaney expects Netflix to beat the broader market because it has "achieved a level of sustainable scale, growth, and profitability that isn't currently reflected in its stock price
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Source Fool.com
