Netflix price target lowered to $380 from $390 at JPMorgan

JPMorgan analyst Doug Anmuth lowered the firm’s price target on Netflix to $380 from $390 and keeps an Overweight rating on the shares. Coming out of the Q1 earnings, there will likely be a lot of near-term debate and discussion around the timing and impact of Netflix’s broader paid sharing rollout in Q2, the analyst tells investors in a research note. However, the firm does not think the Netflix story "changes much." Paid sharing and advertising remain big opportunities and important drivers of both revenue and subscribers going forward, with paid sharing the bigger revenue contributor in 2023, and ads in 2024, says JPMorgan.