Cramer Quick Take: Why Netflix Will Keep Going Higher
NEW YORK (TheStreet) -- After the monster move higher in Netflix (NFLX) , should investors still keep tuning into the stock?Jim Cramer told Debra Borchardt at TheStreet.com Thursday that he's still a fan of the streaming movie giant, a company he said has been rejuvenated by the younger generation.
Cramer said when consumers go out and buy a new big-screen TV, Netflix pretty much now comes standard, which makes it a ubiquitous service with real staying power. He said the younger generation loves Netflix, which only adds to its momentum.
How high can Netflix go? Cramer said the stock is currently valued at 55 times earnings, but he thinks 60 times earnings would make it fully valued given the amount of content and original programming the company has coming down the pike.
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-- Written by Scott Rutt in Washington.
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