Barclays Initiates Coverage On Netflix, Upside Already Priced In

In a report released Thursday, Barclays analyst Paul Vogel initiated coverage on Netflix NFLX and gave the company an Underweight rating with a price target of $420 a share.

Analyst at Barclays like the companies in the domestic internet space and project much future potential growth.

Vogel states Netflix has long-term potential in subscriptions and innovations to come but he believes the growth potential and upside surprise is already priced in the shares of the company.