Netflix stock rises after upgrade report boosts confidence

Netflix shares rose 4.2% to about $956 after MoffettNathanson upgraded its rating from neutral to buy, with a new price target of $1,100. The report highlights confidence in Netflix's margin expansion and subscriber growth. Other media and tech stocks also gained, with Snap up 5% and Lionsgate up 4.2%. The broader market saw a rally, with the Dow Jones Industrial Average increasing by 390 points amid a recovery from recent downturns. The report follows strong fourth-quarter earnings for Netflix, emphasizing its ability to leverage a growing subscriber base for content spending. Analysts predict significant advertising revenue growth, estimating over $6 billion by 2027.