Denver, CO, 06/03/2014 (Stocksntrade) – Netflix, Inc. (NASDAQ:NFLX) share price gained by close to 1 percent during trading on 2nd June on the back of analyst upgrades.
Oppenheimer upgraded the stock to an outperform rating yesterday and followed it up by increasing the price target to $500 from previous recommendation of $435. Its analyst Jason Helfstein has been quoted to have estimated that, “Netflix’s international subscriber base should rise as more people get broadband Internet connections. The company’s opportunity overseas would be the main driver of the stock in the near future.”
In a similar positive coverage, rating agency Robert W. Baird had indicated to its clients that Netflix, Inc. (NASDAQ:NFLX) is poised for a take off in previously unchartered foreign markets which are opening up now due to the increase in broad band services in those regions. The rating agency backed its estimation with supporting data it had drawn from a survey it had commissioned in U.K. The favourable findings have promoted the rating firm to conclude that the adoption of the service in U.K is a precursor to the service being rolled out in other big economies of Europe including France and Germany. Braid went on to register a Outperform rating on the stock and pegged the PT at $470.
In an additional development, Netflix, Inc. (NASDAQ:NFLX) reported that it will be adding a new cartoon program called “Dreamworks Dragons” into its online streaming offering starting 2015 in a bid to attract a previously untargeted audience age group. The program is expected to be a cartoon based program which will deal with the topic of entertaining kids with knowledge on “How to Train your Dragons.”
Netflix, Inc. (NASDAQ:NFLX) disclosed that the program has been acquired as part of a multi year deal struck between itself and Dreamworks Animation Skg Inc (NASDAQ:DWA) as per the terms of which the content provider will provide the online streaming firm with 300 hours of programming.