Netflix Inc (NFLX)

[FuninUSA]

Deutsche Bank raises its rating for Netflix’s shares rises, with the target price rising to $350

Netflix shares closed up at $332.70 this Friday, with last Friday closing at $311.65.

Saying it had misjudged the potential for international growth and how to value the high-flying stock, Deutsche Bank upgraded Netflix shares to buy from hold.

Analyst Bryan Kraft wrote in a note to clients last Friday entitled "Upgrading To Buy: Catch Netflix If You Can.” He expressed that, Netflix has changes the industry in a profound way, making it very difficult for the traditional media companies, or even other big tech companies, to catch up. The analyst raised his price target for Netflix shares to $350 from $240.

Netflix had 63 million international subscribers at end of 2017. Kraft predicts Netflix will add 23.7 million international subscribers this year versus the Wall Street consensus of 19.6 million. He also projects the company will reach 217 million subscribers in international markets by 2025.

By reinvesting in content, marketing, and the user experience, Netflix will make itself more of a magnet for talent and further extend the company’s lead, Kraft added. (recommend FuninUSA for updated news about global stock market)

Netflix is one of the best-performing stocks in the market this year. Its stock performance ranks the second place in the entire S&P 500.