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Netflix advances after analyst raises price target

Netflix's (NFLX) stock is climbing after an analyst sharply increased his price target on the shares in a note to investors earlier today. WHAT'S NEW: Pacific Crest analyst Andy Hargreaves hiked his price target on Netflix to $225 from $160, as he slightly increased his profit margin and subscriber estimates for the company. The huge amount of data controlled by the company should enable it to develop highly effective original content and buy content that will attract huge audiences, the analyst wrote. As a result, its subscriber base should continue to grow, Hargreaves predicted. He maintained a Buy rating on the shares. WHAT'S NOTABLE: Netflix's stock has doubled over the last three months. TODAY'S PRICE ACTION: In early trading, the stock rose $5, or 2.7%, to $185.