Netflix shares rise after hours on upgrade by UBS

A selection of Netflix original content sits displayed in the Netflix app on an Apple iPad tablet device in this arranged photograph in London.

Jason Alden | Bloomberg | Getty Images

A selection of Netflix original content sits displayed in the Netflix app on an Apple iPad tablet device in this arranged photograph in London.

Shares of Netflix rose 1.6 percent in after-hours trading Thursday after an analyst at UBS upgraded the video streaming giant.

Analyst Eric Sheridan hiked his rating on the stock to buy from neutral. He also raised his price target to $410 from $400 per share, implying a 26 percent upside from Thursday’s close of $324.66.

This is a developing story. Check back for updates.

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