Netflix shares could continue to rise: Barron's

Sun Jul 8, 2012 10:51pm EDT

A sign is shown at the headquarters of Netflix in Los Gatos, California September 20, 2011. REUTERS/Robert Galbraith

A sign is shown at the headquarters of Netflix in Los Gatos, California September 20, 2011.

Credit: Reuters/Robert Galbraith

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(Reuters) - Stock of U.S. provider of television shows and movies Netflix Inc could climb as more consumers stay home and watch videos, according to a report in Barron's.

Netflix stock climbed almost 20 percent last week to $81.89, the paper said.

The company gained attention after its CEO, Reed Hastings, said Netflix subscribers streamed one billion hours of video in June, a record for the service, the paper said.

Netflix qualifies as the most watched channel in either broadcast or cable television in the United States, said analyst Richard Greenfield of BTIG.

Citigroup Internet analyst Mark Mahaney last week reiterated a buy on Netflix and affirmed his $130 price target on the shares.

(Reporting by Scott DiSavino; Editing by James Dalgleish)

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