The call by Citi analyst Mark Mahaney is serious, but the comment is part of a joke: Netflix is “our ‘Screaming’ Buy — we say ‘Buy,’ people Scream,” he says of the controversial streaming and DVD rental company. The stock has been so beaten down that this encouraging report contributed to a more than 9.4% pop to around $61.75 in mid-afternoon trading. Mahaney didn’t change his $120 a share price target. One reason for his optimism: a Web survey with 3,800 respondents, including more than 1,200 Netflix subscribers, shows that satisfaction with the service and its content is improving. Mahaney’s comment follows a Netflix endorsement this week from prominent value-oriented hedge fund investor Whitney Tilson. He said that Netflix is a “better business than Amazon.” For perspective: Netflix is still down 11.4% so far in 2012 and down 45.8% for the last 12 months.
Netflix Shares Up After Citi Calls The Stock A “Screaming Buy”
What's Hot on Deadline
Bernie Sanders: Obama Administration "Should Kill" The AT&T-Time Warner Deal: "Higher Prices & Fewer Choices"
'The Tonight Show Starring Jimmy Fallon' Showrunner Josh Lieb Departs For Uni TV Overall Deal, Trio Promoted To Run Show
Latest Business News
- Warner Bros Sues Innovative Artists For Oscar Screener Piracy Of ‘Creed’ + More
- Nielsen Set To Measure Out-Of-Home TV Viewing For First Time
- Broadway Box Office: ‘1812’ Overtures Bode Well For ‘Great Comet’ With $1.1M Week
- Obamageddon The Final Ride: POTUS Now In L.A For ‘Kimmel’ & Last Fundraisers
- Why Does Time Warner Want To Sell To AT&T, And What Will It Mean For Media?
- More Than 250 Picketers Descend On Electronic Arts For SAG-AFTRA Strike