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”
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