UPDATE: Stifel Upgrades Netflix To Buy As 2015 Outlook Is Bright

In a report published Wednesday, Stifel analyst Scott Devitt upgraded the rating on

from Hold to Buy, and named a $380.00 price target. In the report, Stifel noted, “We are upgrading Netflix to a Buy rating with a $380 price target. While the company continues to experience a transition between slowing subscriber growth in the profitable U.S. segment and international expansion, we believe shares in the low-$300 range provide a compelling risk-to-reward ratio given the strong content cycle, reset expectations following a few quarters of lower subscriber net adds, and recent / upcoming international launches.” Netflix closed on Tuesday at $323.79.