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Netflix Up after Credit Upgrade
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Netflix Up after Credit Upgrade

Shares of streaming giant, Netflix (NASDAQ: NFLX) were up in morning trading on Friday after Moody’s lifted Netflix’s credit rating out of “junk” territory. Moody’s raised the rating on Netflix’s senior unsecured notes to Baa3, its lowest investment-grade rating, from Ba1, a “junk”, rating. Moody’s rating outlook is “positive,” which indicates that the next rating could be another upgrade.

The credit analysts wrote in their research note, “Moody’s anticipates that growth in subscribers from the recently launched ad supported service will be gradual but steady and provide a strong long-term opportunity for revenue growth given the mass audience potential and shrinking ad avails in the linear television ecosystem.”

Analysts are cautiously optimistic about NFLX stock with a Moderate Buy consensus rating based on 17 Buys, 16 Holds, and two Sells.

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