Netflix stock hits record high; could it reach 900?
Netflix (NFLX) stock rocketed to a record high Thursday after the Internet TV company reported better-than-expected subscriber growth in both the U.S. and international markets in the first quarter. Netflix stock surpassed 550 in midday trading in the stock market today, up 15.5% and eclipsing its previous high from last September of 489.29. Many analysts hiked their price targets on Netflix stock. FBR analyst Barton Crockett was the most setting a price target of 900 from 400. “We see Netflix as very likely to move toward 180 million global subscribers by 2020 (over 60 million in the U.S.),” he said in a research note Thursday. His outperform rating on the stock and new price target are based in part on an FBR survey of U.S. consumers, conducted this month. It found that domestic Netflix subscribers — nearly 40% of U.S. TV households — love the service more than multichannel pay TV, Crockett…