Analysts adjusted their ratings on Netflix, Inc. (NFLX), Google Inc (GOOGL), and TrueCar Inc (TRUE)
Analysts are weighing in today on streaming entertainment provider Netflix, Inc. (NASDAQ:NFLX), search engine Google Inc (NASDAQ:GOOGL), and online auto concern TrueCar Inc (NASDAQ:TRUE). Here's a quick look at today's brokerage notes on NFLX, GOOGL, and TRUE.
- NFLX is more than 1.7% higher at $681.46, after a morning statement from Morgan Stanley. The brokerage elevated Netflix, Inc.'s price target to $750 -- in record-high territory -- and underscored an "overweight" rating. This news follows yesterday's move from Nomura, which raised its price target to $750 from $600. Shares of the streaming media giant recently hit an all-time high, as traders applauded news of a stock split -- set for next week, just before the company reports earnings. The equity could receive some additional momentum from more upgrades, should the company report solid figures next week. Ten of the 27 analysts tracking NFLX still rate it a "hold" or worse.
- GOOGL is almost 2% higher this afternoon, with help from a shout out from CNBC's Jim Cramer and a price-target boost from Credit Suisse. The ratings house moved Google Inc's target to $700 from $690 -- in uncharted waters -- and issued an "outperform" rating. The upbeat attention has helped traders shrug off reports of escalating YouTube competition from Facebook Inc (NASDAQ:FB). Technically speaking, GOOGL is up 2.3% at $556.97, but is facing resistance at its 80-week moving average, located near $560. Along with NFLX, the company will enter the earnings spotlight next week.
- TRUE rounds out our news trio this afternoon, thanks to a trio of price-target cuts. Craig Hallum cut TrueCar Inc's price target to $18 from $21, Cowen and Co. cut its price target to $14 from $19, and B. Riley slashed its target to $9.25 -- in record-low territory -- and offered up a "sell" rating. While the shares touched an all-time low of $9.81 earlier, they were last seen 5.5% higher at $10.60, with speculators apparently unconcerned about a break with AutoNation, Inc. (NYSE:AN).