UPDATE: Oppenheimer Sees Opportunity in Tech Sell-Off; Netflix (NFLX) and Yelp (YELP) Raised to Outperform
- Wall Street climbs in wake of first presidential face-off
- Nike (NKE) Tops Q1 EPS by 17c; Futures Orders Miss Views
- Tempur Sealy (TPX) Updates on Outlook; Sees Q3 Sales Below Prior Expectations
- Galectin (GALT) Reports Exploratory Phase 2a Pilot Trial of GR-MD-02 in Nash Misses Primary Biomarker Endpoint; Announces $1.5M Private Placement
- After-Hours Stock Movers 09/27: (SEED) (GALE) (CTAS) Higher; (GALT) (TPX) (NKE) 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
- Netflix's (NFLX) Price Target Raised to $125 at JPMorgan
- Nextera Energy (NEE) Added to US 1 List at BofA/ML
- Goldman Sachs Thinks Lilly (LLY) is Compelling With or Without Potential Blockbuster AD Drug Sola; Analyst Raises Rating to 'Buy'
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!