It's never too late to fall in love with Netflix
JPMorgan Chase initiated coverage of the DVD and flick-streaming specialist this morning, when it issued a favorable "overweight" rating and a $53 price target for the end of next year.
The analyst's finish line is just 22% higher than where the stock is today. That may not be a very sexy return over the next 16 months, but it's certainly not chump change.
Netflix has earned its accolades. It has grown through the recession, something that many couch potato subscription-based services including TiVo
It also continues to differentiate itself from Blockbuster
Even if many Netflix subscribers are perfectly happy to stick to DVDs, the Web-based content is an attractive retention tool. It may also be a compelling recruiting tool, as Netflix is teaming up with Time Warner
Just as Google's
JPMorgan may be fashionably late with its coverage, but Netflix seems to have enough ammo to keep the party going.
Other Netflix-ish headlines:
Longtime Fool contributor Rick Munarriz has been a Netflix shareholder -- and subscriber -- since 2002. He also owns shares in TiVo and is part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.