Tuesday September 15, 03:23 PM
STOCKS NEWS US-JPMorgan starts Netflix at "overweight"
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Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
0958 ET 15Sept2009-JPMorgan starts Netflix (NASDAQ: NFLX - news) at 'overweight'
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J.P. Morgan Securities initiated coverage of Netflix Inc with an
'overweight' rating, saying the movie rental company is poised to continue to
add subscribers in the near term and to successfully transition away from
DVD-by-mail in the medium term.
'Ultimately, we believe the business will operate on a streaming model. The
economics are overwhelmingly favorable for digital over mail delivery,' analyst
Imran Khan wrote in a note to clients.
For details, see
Shares of Netflix rose 1.7 percent to $44.03.
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