Netflix stock surges past $200 for first time
Posted by Tae Kim on 13th October 2017
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This post was originally published on CNBC NEWS

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Netflix shares hit an all-time high Friday passing through $200 for the first time ever.

Multiple top analysts on Wall Street have raised their price forecasts on the online streaming giant this week.

On Friday, Goldman Sachs reaffirmed its buy rating and raised its price target for Netflix shares to the highest on Wall Street, predicting the company will post subscriber gains above expectations over the next two quarters.

“We believe consensus subscriber estimates for Netflix ahead of Monday’s earnings remain too low, particularly for the quarter, 4Q, and beyond,” analyst Heath Terry wrote in a note to clients Friday.

JPMorgan also reiterated its overweight rating Friday and raised its price target for Netflix shares to $225 from $210.

The company is slated to report third quarter earnings on Monday, Oct. 16.

Netflix announced last week it is raising prices for some of its subscription plans. Its $10 per month high-definition plan now costs $11 per month. Netflix’s 4K streaming plan, which enables higher resolution video streaming, will cost $14 per month, up from $12 per month.

The shares are now up more than 61 percent for the year.

This story is developing. Please check back for further updates.

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