Why Netflix Shares Are Rising

Why Netflix Shares Are Rising

Netflix Inc NFLX shares are trading higher by 3.90% to $233.12. Atlantic Equities on Wednesday upgraded the stock from Neutral to Overweight and raised its price target from $211 to $283.

Shares of several companies in the broader communications, media and entertainment industry, including Netflix have otherwise been trading lower in recent sessions amid raised fears of an economic slowdown as investors continue to assess Wednesday's Fed commentary and 75 bps rate hike.

An economic slowdown could negatively impact consumer spending and induce consumers into cutting subscription services.

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According to data from Benzinga Pro, Netflix has a 52-week high of $700.99 and a 52-week low of $162.71.

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