BTIG analyst Richard Greenfield was out pounding the table on Netflix, Inc. (NASDAQ:NFLX), maintaining a Buy rating on the stock and hiking the price target up from $600 to $950, which represents a potential upside of 44.6% from where the stock is currently trading.
Greenfield noted, “Our upgrade of Netflix to BUY in October 2014 (link), was premised on the view that the breakdown in the traditional media ecosystem would directly benefit Netflix. While Netflix has exceeded our $600 one-year price target, we believe its business model is gaining meaningful momentum. In turn, we are setting a new one-year price target of $950, up 45%.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Richard Greenfield has a total average return of 9.1% and a 62.9% success rate. Greenfield has a 52.8% average return when recommending NFLX, and is ranked #998 out of 3638 analysts.