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Piper Jaffray Upgrades Netflix Stocks

4 Dec, 2007 By: Angelique Flores

Piper Jaffray upgraded Netflix's stocks from neutral to buy. The investment bank also raised its price target from $26 to $28, citing Blockbuster Inc.'s change in strategy as an advantage for Netflix, according to StreetInsider.com.

Piper Jaffray said their checks at Blockbuster stores indicate that Total Access isn't being pushed to customers anymore and the traffic on Blockbuster.com has slowed down, according to StreetInsider.com.

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