Analyst Upgrades: Netflix, Panera Bread Company, Etsy

Analysts are weighing in today on streaming-video king Netflix, Inc. (NASDAQ:NFLX), baked goods enthusiast Panera Bread Co (NASDAQ:PNRA), and Wall Street newcomer Etsy Inc (NASDAQ:ETSY). Here's a quick roundup of today's bullish brokerage notes on NFLX, PNRA, and ETSY.

• NFLX is the talk of the town this morning, after the company reported a greater-than-expected increase in international subscribers during the first quarter. Ahead of the open, the shares are 11.7% higher, and quite simply, the stock has been on fire recently. Netflix, Inc. has outperformed the broader S&P 500 Index (SPX) by roughly 31 percentage points during the past 60 sessions, and boasts a month-to-date gain of 14% to settle yesterday at $475.46. Analysts have been quick to move in, with no fewer than 21 brokerage firms hiking their price targets during overnight hours. Standing out from the bunch is a $900 price target from FBR -- well above NFLX's all-time high of $489.29, a level the shares are set to topple easily today.


• PNRA is seeing similar success in pre-market trading, with shares pointed 11.9% higher, after the company said it will repurchase $750 million worth of shares. The company is also planning to sell refranchise 73 of its cafes. Following this, Raymond James upgraded the equity to "market perform" from "underperform," while Cowen and Company boosted its price target to $172 from $170. Guggenheim also weighed in on Panera Bread Co, starting coverage with a "neutral" rating. The latter mirrors the general opinion on the Street, where 10 of 19 covering brokerage firms deem the security a "hold" or "strong sell." PNRA has earned this negative attention by falling 6.2% in 2015, closing at $163.92 yesterday.


• ETSY will begin trading today, with its initial public offering (IPO) priced at $16 per share. The online marketplace -- featuring mostly handmade goods -- made headlines leading up to today's premiere using an unorthodox approach. Specifically, Etsy Inc recruited relatively small investors to buy its stock, including some of the vendors on its site. In any case, the shares are off to a solid start, as Brean Capital initiated coverage with a "buy" rating and $19 price target.