Netflix Inc. (NFLX) shares were up 1.7% in after-hours trading Thursday after an upgrade by UBS. In a note to clients, UBS analyst Eric Sheridan boosted his rating on Netflix stock to buy, from neutral. He also raised his price target to $410 a share, from $400. That's about a 25% upside from Thursday's closing price of $324.66. Sheridan cited strong subscriber numbers and investors' clearer understanding of the streaming company's challenges. Netflix shares are up 21% year to date, compared to the S&P 500's 2.4% gain. Over the past 12 months, Netflix is up nearly 53%, compared to the S&P 500's 5.5% decline.
-Mike Murphy; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 11, 2019 15:13 ET (20:13 GMT)
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