Netflix, Inc. (NFLX) Breaks Out to Newest High

Netflix, Inc. (NFLX) is soaring on its latest dose of positive analyst attention

Aug 4, 2015 at 2:37 PM

NFLX

Netflix, Inc. (NASDAQ:NFLX) is burning it up on a bullish initiation at Guggenheim. Specifically, the brokerage firm started coverage with a "buy" rating and $160 price target, sending the shares to a record peak of $122.79 around noon. At last check, the streaming content stock remains up 8% at $121.55, bringing its year-to-date advance to 149%.

Today's positive analyst attention is par for the course. Eighteen of 28 brokerage firms consider NFLX a "buy" or better. However, the stock's consensus 12-month price target of $113.35 stands at a significant discount to the stock's current price.

Option traders have also set up shop in the bulls' camp. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Netflix, Inc.'s (NASDAQ:NFLX) 10-day call/put volume ratio of 1.34 sits just 2 percentage points from a 12-month high. It's more of the same today, with calls outstripping puts, and likely buy-to-open activity at the weekly 8/7 120-strike call leading the way.

Follow @Schaeffers

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!