Citi Upgrades Netflix (NFLX) to Buy; Taking Advantage of Recent Correction
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Citi upgrades Netflix Inc (Nasdaq: NFLX) from Hold to Buy. Price target increased from $37 to $52.
Citi analyst says, "NFLX shares have corrected 15% in the last two weeks – including 6% off of 4/23 Q1 EPS release. We view this as an Expectations Correction – not a Fundamentals Correction. And we believe this creates an attractive entry point for one of the Internet Sector’s best Core Long Thesis stocks. Four broad upgrade reasons. 1) NFLX has one of the sector’s strongest fundamental outlooks; 2) NFLX is one of the sector’s most economically defensive stocks; 3) NFLX has deeper than realized competitive moats; and 4) NFLX’s valuation relative to growth very reasonable."
Netflix, Inc. provides online movie rental subscription service in the United States to approximately 10 million subscribers.
To see more analyst ratings on NFLX Click Here.
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