Netflix will gain another 24% from current levels amid 'structural' advantages in the streaming space, Argus Research says

Netflix.
Photo by Britta Pedersen/picture alliance via Getty ImagesShares of Netflix jumped as much as 4% on Tuesday after Argus Research upgraded the streaming service to "Buy" from "Hold."Argus believes Netflix will benefit from "structural competitive advantages" as the firm works to become free cash flow-positive.The firm assigned a $650 price target to Netflix, representing potential upside of 24% from Monday's close.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.