(Reuters) - Citigroup analyst Tony Wible, who cut his rating on Netflix on Tuesday, raised his rating on Blockbuster late that evening, saying the company's marketing expenses to promote its Total Access online offering "are now fully priced into the stock." He also cited improving box office returns and a lessening near-term threat from video-on-demand.
Blockbuster and Netflix have been battling over the online DVD rental market, which is projected to grow by 43 percent this year. Netflix has a larger subscriber base, but Blockbuster has been growing faster since the launch last year of its Total Access plan, which let online subscribers swap DVDs at its stores for free rentals.
Read more at Reuters.com Hot Stocks News
Blockbuster and Netflix have been battling over the online DVD rental market, which is projected to grow by 43 percent this year. Netflix has a larger subscriber base, but Blockbuster has been growing faster since the launch last year of its Total Access plan, which let online subscribers swap DVDs at its stores for free rentals.
Read more at Reuters.com Hot Stocks News
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