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Netflix can rally nearly 30% once rotation away from stay-at-home stocks eases, Jefferies says

In this photo illustration the Netflix logo in the App Store seen displayed on a smartphone screen.

Rafael Henrique | SOPA Images | LightRocket | Getty Images

Netflix has solidified itself as a streaming video leader and its stock price should rebound strongly in the months ahead, according to investment firm Jefferies.

Analyst Andrew Uerkwitz assumed coverage of the stock on Wednesday, assigning the stock a buy rating and saying that its cash flow should help it fend off competitors.

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