Netflix (NASDAQ:NFLX – Get Free Report) was upgraded by equities researchers at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

Phillip Securities adjusted its stance on Netflix (NASDAQ:NFLX) stock, downgrading the rating from Neutral to Reduce, even as the firm increased the price target to $870 from the previous $695. The revision comes in the wake of Netflix's strong membership growth and the success of its advertising business,

The stock rose 10% on Wednesday, the day after Netflix posted stellar results for its fourth quarter—the best ever for subscriber gains. Management attributed the gains to a robust slate of original shows and live events,