Pacific Crest maintained a Buy rating on Tuesday, but the big part of the call the price target boost to $225 from $160 on the media distribution company. The move is based on higher customer growth and higher margins. The firm calls it the clear segment leader for streaming video, but it also warned that getting shares up above $225 would have to be based on developments that will translate to results more than a year out.
You know it is a bull market now when you see that Netflix shares are up more than 4% at $189.00. What is interesting is that there have not yet even been 3 million shares traded, when the average daily volume is 5.2 million shares.
Netflix has a 52-week trading range of $52.81 to $197.62 and remember that this stock was down at $92.59 at the end of 2012.
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