| 2018-06-13 09:44:54|
NFLX 09:44 06/13 06/13/18
Netflix higher after Goldman boosts price target to $490 from $390
Shares of Netflix are moving higher after Goldman Sachs analyst Heath Terry this morning boosted his price target on the shares to $490 from $390. The streaming service in early trading is up nearly 2%, or $6.34, to $370.17. The analyst, whose new price target is high on the Street, sees the stock benefiting as Netflix's cash flow inflects positively in the coming years. Terry believes 2018 will mark the negative cash flow peak for Netflix. The company's revenue growth will begin to outpace content spend growth in 2019, Terry predicts. The analyst keeps a Buy rating on the shares.
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