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
Latest Business News
- Labor Department: Art Directors Guild Exec Director Is “Officer” & Must Stand For Election
- How A DreamWorks-Illumination Combo Beats Disney At The B.O.
- NFL Draft Day 1 Viewership Down From 2015; ‘Big Bang Theory’ Wins Demo
- Time Warner’s Jeff Bewkes Made $31.5M in 2015, Down 4.3%
- Home Entertainment Spending Fell 9% In Q1 Not Including Streaming Services
- Scott Rudin’s ‘Shuffle Along’ Ruled A New Musical, Setting Up A Likely ‘Hamilton’ Showdown At…