UPDATE: Oppenheimer Sees Opportunity in Tech Sell-Off; Netflix (NFLX) and Yelp (YELP) Raised to Outperform
- Market Wrap: Markets Weak on Greece, China; Aetna Moves to Acquire Humana; ISM Service Index Gained in June
- Advanced Micro Devices (AMD) Cuts Q2 Outlook
- After-Hours Stock Movers 07/06: (SUNE) (AAP) (CTCT) Higher; (AMD) (SHLM) (ETRM) Lower (more...)
- Nike (NKE) to Become Wolverines' Official Athletic Footwear, Apparel and Equipment Provider
- UPDATE: ECB Keeps Emergency Liquidity for Greek Banks Unchanged, Adjusts Haircuts on Collateral
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: Morgan Stanley Upgrades Edwards Lifesciences (EW) to Overweight; Bullish on TAVR Market
- UPDATE: UBS Starts Chemours (CC) at Neutral
- UPDATE: RBC Capital Starts Epizyme (EPZM) at Outperform
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!