Netflix gets a $500 price target, highest on Wall Street

One Wall Street firm is getting a lot more bullish on Netflix's ability to dominate the video streaming market.

GBH Insights increased its price target for Netflix shares to $500 from $400, representing 28 percent upside to Monday's close. It is the highest target of the 36 analysts who cover Netflix, according to FactSet. The firm also reiterated its "highly attractive" rating.

"Our bullish thesis on Netflix is based on our belief that the company's competitive moat, franchise appeal, ability to increase international streaming customers through 2020, and original content build out will translate into robust profitability and growth," head of technology research Daniel Ives said in a note to clients Tuesday. Ives previously worked for FBR for 16 years.

Netflix shares rose 1.9 percent to $397.24 in early trading Tuesday as the rest of the market fell on trade war fears. Its stock is up 103 percent this year through Monday, which is the second-best performance in the S&P 500.

Citing his firm's survey of users, Ives said the average Netflix customer watches its service more than 10 hours per week versus five hours per week for Amazon and Hulu. He also said nearly 90 percent of Netflix's subscribers said they are willing to pay more for the service.

"We believe Netflix remains in a unique position of iron-like strength to grow its content and distribution tentacles over the next 12 to 18 months and thus further build out its massive content and streaming footprint," he said.

In a similar move, Piper Jaffray raised its price target to $420 from $367 and reiterated its overweight rating for Netflix shares Tuesday, predicting strong international subscriber growth for the company.

Disclaimer

Pizza Hut nixing antibiotics from chicken

Pizza Hut offers a lot of toppings on its cheesy pies, but in a few years�there's one you will no longer be able to get: chicken containing antibiotics.

The same goes for chicken wings and any other chicken products that Pizza Hut sells. All will be antibiotic-free.

The pizza chain, a unit of Yum Brands along with Taco Bell and KFC, said Tuesday that its chicken will be raised without antibiotics by 2022.

Pizza Hut's goal is to serve food that ��customers can feel good about eating,�� Chief Brand Officer Marianne Radley said�in a statement.

Besides Pizza Hut, Papa John��s and Papa Murphy��s have cut the use of poultry raised with antibiotics. KFC, Chick-fil-A, and McDonald��s have also decided to stop using antibiotics.

The overuse of antibiotics is being blamed for contributing to the rise of life-threatening human infections caused by antibiotic-resistant bacteria. At least 23,000 people die each year as a result of these infections, according to a 2013 report by the Centers for Disease Control and Prevention.

The change is one of several made within the past few�years in an effort to adhere to customer standards. In 2016, the pizza chain launched its initial plan to remove antibiotics from chicken toppings.

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��Our customers are our business, and we will continue to push ourselves to ensure that we are delivering the quality food and quality experience our customers expect and deserve,�� said Radley.