Netflix shows strong Q4 results

Shares for the company hit a 52-week high

NEW YORK -- Netflix shares soared more than 20% Thursday and hit a 52-week high, a day after the DVD-by-mail pioneer posted strong fourth-quarter results.

The stock hit a 52-week high of $63.85 earlier in the trading session and closed at $63.04, up 23.7%.

Jefferies & Co. analyst Youssef Squali in the morning upgraded Netflix shares from "hold" to "buy," arguing that the company's "momentum is stronger than ever, driven by excellent execution amid a very favorable competitive environment." He also raised his price target from $52 to $65.

Some on Wall Street also cited renewed speculation that or another company could acquire Netflix.
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