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”
For all of Deadline’s headlines, follow us @Deadline on Twitter
Sign up for Newsletters
Trending Now on Deadline
More From Lieberman
- Now That He's At Carmike, Can Bud Mayo Lead Theaters' Alternative Content Revolution?
- Cable Milestone: Operators Have More Broadband Subs Than TV Ones
- Look Out Gannett: Carl Icahn Buys 6.6% Stake
- Warren Buffett Sends A Mixed Message To John Malone As He Buys Into Charter But Unloads Starz
- Citing “Insulting” Criticism, Comcast And Time Warner Cable Withdraw Funding For Dinner Honoring FCC Commissioner
- Televisa Partners With MiTu To Develop Spanish-Language Digital Content