Shares of the streaming giant rise in Wednesday trading after Goldman Sachs also boosts its third-quarter subscriber forecast..
Netflix shares could rise as high as $670, Goldman Sachs analyst Heath Terry said in a report on Wednesday.
The $70 increase in his price target on the stock, from $600 previously, establishes a new high amid Wall Street observers. The analyst also raised his third-quarter prediction for subscriber growth from previously 4.5 million. "We expect Netflix to report third-quarter results well above guidance and consensus expectations, with roughly 6 million net subscriber additions," Terry explained, citing an increase in content, a lack of competition"for entertainment hours and spend," and more time being spent at home by consumers amid the coronavirus pandemic.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Snowflake draws bullish calls from Wall Street, though some analysts say stock is fully valuedAt least 19 analysts initiated coverage of Snowflake on Monday, with price targets ranging from $214 to $350.
Read more »
Here are Goldman Sachs' top buy and sell ideas for the rest of 2020Goldman Sachs has put out two lists of stocks with the most upside and downside to its analysts' target prices for the remainder of 2020.
Read more »
Apple and Amazon drive rally on Wall StreetWall Street ended sharply higher on Monday, fueled by expectations of a coronavirus relief package and by a rally in Amazon, Apple and other technology stocks ahead quarterly earnings season.
Read more »
5 things to know before the stock market opens WednesdayU.S. stock futures pointed to a higher open Wednesday, one day after the first down session in the past five on Wall Street.
Read more »
Leon Black, Who Reportedly Wired Jeffrey Epstein Millions of Dollars, Says He Regrets “Any Involvement”After a new report shed further light on the pair’s relationship, the Wall Street billionaire tried to explain himself in a letter sent to Apollo investors.
Read more »
The 100 Most Sustainably Managed Companies in the WorldA new ranking by The Wall Street Journal names Sony the most sustainably managed company in the world, as hardware companies claim 18 of the 100 positions on the list
Read more »