- Netflix (NFLX +0.7%) appears to be gearing up for a run at $400 a share after three separate investment firms raised their price targets on the streamer to go along with glowing analysis.
- While Piper Jaffray lifts its PT to $420 and Monness Crespi takes its PT all the way up to $460, both shops are below the $500 PT set by GBH Insights.
- GBH's bullish thesis summary: "While the landscape for original content has become increasingly competitive with new entrants entering the market by the day (Disney/Comcast bidding war for Fox remains a wild card) we believe Netflix remains in a unique position of iron-like strength to grow its content and distribution tentacles over the next 12 to 18 months and thus further build out its massive content and streaming footprint."
- Before the GBH note arrived this morning, Goldman Sachs (NYSE:GS) had the highest price target on NFLX with its $490 call from last week.
- Now read: Netflix: You Might Be Missing The Bigger Picture
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