Netflix Rises to Record as Analyst Predicts Viewer Gains
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Netflix Inc., the largest Internet subscription service, rose to a record high after Goldman Sachs Group Inc. recommended the stock, saying profit margins will expand as the company signs up new customers.
Netflix, based in Los Gatos, California, jumped 7.4 percent to $473.10 at the close in New York, exceeding the old closing high of $454.98 sent on March 4. Shares of the Web-based film and TV service have gained 29 percent this year.