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By Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily Needham’s Charlie Wolf this morning raised his rating on Netflix (NFLX) to Hold from Under Perform, and lifted his price target on the Web-based video rental company to $25 from $22. Wolf said he has revised his model of the company’s business, and that his previous model “materially under-estimated the value of the company.” His previous model assumed the profitability of a subscriber was independent of how long someone has been a customer; but now he says that “the profitability of a subscriber increases with the length of time he maintains his subscription.” Read the rest of... [read full story]
