Netflix Inc. was upgraded to Outperform from neutral with a $280 price target at Wedbush Securities

One of the most bearish ratings on Wall Street. Wedbush's Michael Pachter is changing his outlook for Netflix (NFLX). Wedbush upgraded Netflix to outperform from Neutral with a $280 price target Monday.

The analyst says his upgrade comes as Netflix is addressing password sharing, introducing ad tier, and spreading out its most popular content.

frThe stock traded near $186.37 on Monday. The 52-week trading range is $162.71 to $700.99.