Wall Street’s big banks, and particularly their analyst corps, are notoriously late to the party when it comes to upgrades. #-ad_banner-#Yet being late doesn’t mean they’re wrong. In fact, their delayed arrival often gives the stock a bullish jolt. That’s precisely what happened this week when Goldman Sachs upgraded video-streaming company Netflix (Nasdaq: NFLX) from “neutral” to “buy.” Goldman also raised its price target significantly, to $590 from $380, an increase of more than 55%. In its note to clients, Goldman said that Netflix has the potential to more than double its global subscriber base over the next… Read More
Wall Street’s big banks, and particularly their analyst corps, are notoriously late to the party when it comes to upgrades. #-ad_banner-#Yet being late doesn’t mean they’re wrong. In fact, their delayed arrival often gives the stock a bullish jolt. That’s precisely what happened this week when Goldman Sachs upgraded video-streaming company Netflix (Nasdaq: NFLX) from “neutral” to “buy.” Goldman also raised its price target significantly, to $590 from $380, an increase of more than 55%. In its note to clients, Goldman said that Netflix has the potential to more than double its global subscriber base over the next three years. The renewed optimism from Goldman comes as Netflix continues to expand its footprint internationally, which includes a big push into Europe. In late May, Netflix announced plans to launch its streaming video service in six European countries, including the two biggest European markets, France and Germany. So how late to the party were Goldman’s analysts? Well, shares were trading 16% above their previous $380 target before the upgrade hit the wire. NFLX has more than doubled in the past year, and over the past 24 months, it is up an incredible 583%. Of course, Goldman’s arrival livened up… Read More