Shares of Netflix Inc.
rocketed 9.1% to open well into record territory Tuesday, as investors and analysts cheered the video streaming service’s second-quarter results. The stock traded as high as $177 soon after the open, above the previous record close of $165.88 and the all-time intraday high of $166.87, which were both reached on June 8. No less than 28 of the 41 analysts surveyed by FactSet have raised their stock price targets after the results, lifting the average target to $180.31 from $159.36 before the results. The highest target is now Atlantic Equities analyst Hamilton Faber’s $212, according to FactSet. Netflix’s stock has now shot up 42.5% year to date, while the tech-heavy Nasdaq 100
has climbed 19.7% and the S&P 500
has gained 9.6%.