Why Are Netflix Shares Rallying To New Highs?

Shares of Netflix Inc. (NASDAQ:NFLX) rallied more than 3 percent Tuesday, hitting a 52-week high of $577.10, after Bank of America Merrill Lynch boosted its rating on the video-streaming service’s stock to “buy” from “underperform,” citing long-term subscriber growth and earnings potential. The financial firm also raised its price target on Netflix, more than doubling its…