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The Netflix sign on is shown on an iPad in Encinitas, California, April 19,2013. Netflix Inc reported on April 22, 2013 a first-quarter profit that beat Wall Street expectations as the dominant video rental service added new streaming subscribers in the United States.
The Netflix sign on is shown on an iPad in Encinitas, California, April 19,2013. Netflix Inc reported on April 22, 2013 a first-quarter profit that beat Wall Street expectations as the dominant video rental service added new streaming subscribers in the United States.
(MIKE BLAKE/REUTERS)

Eye on Equities

RBC jumps aboard the Netflix upgrade train

RBC Dominion Securities analyst Mark Mahaney boosted his target on Netflix Inc. after the video rental giant reported a stronger-than-expected first-quarter profit helped by its growing streaming-subscriber base.

“We continue to believe that Netflix has achieved a level of sustainable scale, growth and profitability that isn’t currently reflected in its stock price,” Mr. Mahaney in a report released Tuesday.