Shares of Netflix Inc. rallied 1.9% in morning trading Friday, after the streaming video giant was initiated at buy at LightShed Partners, a research firm founded by analysts including Richard Greenfield and Walter Piecyk, saying the "breadth and depth of negative sentiment" has created a unique buying opportunity. LightShed set a stock price target at $375, which was 31% above current levels. "As the cracks in the legacy media ecosystem become deeper and more visible with Netflix's content slate ramping notably into Q4 2019 and 2020, our excitement for Netflix stock over the coming year has grown," LightShed analysts wrote in a research note. They said they were now ever more confident than in the past, that "competition is more friend than foe" to the Netflix investment thesis. The stock has tumbled 24.7% over the past three months through Thursday, while the S&P 500 has slipped 1.1%. Read More...
Shares of Netflix Inc. rallied 1.9% in morning trading Friday, after the streaming video giant was initiated at buy at LightShed Partners, a research firm founded by analysts including Richard Greenfield and Walter Piecyk, saying the “breadth and depth of negative sentiment” has created a unique buying opportunity. LightShed set a stock price target at $375, which was 31% above current levels. “As the cracks in the legacy media ecosystem become deeper and more visible with Netflix’s content slate ramping notably into Q4 2019 and 2020, our excitement for Netflix stock over the coming year has grown,” LightShed analysts wrote in a research note. They said they were now ever more confident than in the past, that “competition is more friend than foe” to the Netflix investment thesis. The stock has tumbled 24.7% over the past three months through Thursday, while the S&P 500 has slipped 1.1%.
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