Netflix stock finished higher on Tuesday after analysts at Evercore ISI said they have upgraded it to Hold from Sell. They also boosted their price target from $101 to $111 per share based on an improved outlook for subscribers. Shares of Netflix stock rose 4.54% to close out regular trading at $124.57.
Netflix stock upgraded by a major bear
Analyst Ken Sena and team said in a research note dated Dec. 6 that so far, his concerns about competition have not played out. He reminded investors that he downgraded Netflix stock in March 2015 because of concerns about competition from “more scaled audience platform focusing on video” and the growing number of over-the-top options from incumbent players in the video industry that own more content than Netflix.