Benchmark analyst Matthew Harrigan raised the firm’s price target on Netflix to $450 from $440 and keeps a Sell rating on the shares. Netflix management is continuing to execute well on advertising and injecting compelling new content including NFL Christmas Day games and WWE Raw next year, the analyst tells investors in a research note. The firm does not feel the current valuation can be justified even valuing Netflix as a Nasdaq 100 high growth technology name and disregarding its media stock character.
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