Shares of Netflix Inc. (NFLX) continued their torrid record pace Friday, closing up 8% to $548.73. The streaming service, expected to announce yet another strong quarter on July 16, has been one of the top-producing tech stocks since the COVID-19 outbreak in March. Netflix's closing price gave it a valuation above those of rivals Walt Disney Co. (DIS), AT&T Inc. (T), and Comcast Corp. (CMCSA). Netflix shares have also benefited from glowing market research notes in recent days, topped by Goldman Sachs' prediction of its price reaching $670 per share. Netflix shares are up 70% in 2020, while the broader S&P 500 index is down 1.4%.
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 10, 2020 16:02 ET (20:02 GMT)
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