1013 ET - Netflix's results have so consistently beaten expectations for the last three years that Benchmark has decided to raise its rating to hold from sell. Netflix posted record subscriber gains in 4Q and plans to raise prices across its existing US plans. "Although Benchmark does not assign price targets for hold rated stocks we will continue to estimate fair value, which we now peg at $800 vs. a prior $720 estimate," says analyst Matthew Harrigan. Shares jump 13% to $981.70, on pace for the largest percent increase since October 19, 2023, when it rose 16.05%. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
January 22, 2025 10:13 ET (15:13 GMT)
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