Netflix stock has room to run, despite recent climb
Netflix (NFLX) stock still has room to run despite rising 66% this year through Monday, Morgan Stanley analyst Benjamin Swinburne said in a research report Tuesday. Swinburne reiterated his overweight rating on Netflix stock, with a price target of 620. Netflix hit an all-time high of 576.13 on Monday, the third straight day of record high. But shares of the Internet television service were down 1%, near 562, in midday trading on the stock market today. “While near-term upside is likely muted, we remain bullish on the long-term opportunity for (Netflix) shares,” Swinburne said. “In particular, Netflix’s global moat is deepening and we believe shares still do not reflect potential pricing upside.” Morgan Stanley predicts Netflix will reach 165 million-plus global subscribers, excluding China, by 2025. It is modeling for about 65 million U.S. subscribers in 10 years. Netflix ended Q1 with 62.27 million streaming video subscribers, including 41.4 million…