UPDATE: Oppenheimer Sees Opportunity in Tech Sell-Off; Netflix (NFLX) and Yelp (YELP) Raised to Outperform
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Oppenheimer upgraded Netflix (NASDAQ: NFLX) from Perform to Outperform with a price target of $419. Yelp (NASDAQ: YELP) was also upgraded to Outperform with a price target of $78. Analyst Jason Helfstein sees opportunity in recent weakness.
"In our view, the recent sell-off in high-beta Internet and technology stocks has created a buying opportunity in certain stocks in our coverage universe. As we view near-term fundamentals as unchanged, we are upgrading the shares of NFLX and YELP to Outperform from Perform. Based on prior price target calculations, we estimate 24% and 19% upside, respectively, with favorable near-term technical support," said Helfstein
Shares of Netflix closed at $337.31 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UBS Upgrades Swift Transportation (SWFT) to Buy
- Netflix (NFLX) PT Raised to $140 at Guggenheim
- T-Mobile (TMUS) Potential Capacity Crunch May Slow Momentum vs. Sprint (S) - FBR
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Hot Comments, Hot Upgrades, Upgrades
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!