Netflix (NFLX) Price Target Raised to $950 at BTIG

BTIG maintained a Buy rating on Netflix (NASDAQ: NFLX) and raised its price target to $950.00 (from $600.00). Analyst Richard Greenfield thinks the company's business model is gaining momentum. The price target represents a new Street high.

"Our upgrade of Netflix to BUY in October 2014 (link), was premised on the view that the breakdown in the traditional media ecosystem would directly benefit Netflix. While Netflix has exceeded our $600 one-year price target, we believe its business model is gaining meaningful momentum. In turn, we are setting a new one-year price target of $950, up 45%," said Greenfield.

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $657.10 yesterday.

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