Netflix price target raised to $1,000 from $900 at Barclays

Barclays raised the firm’s price target on Netflix (NFLX) to $1,000 from $900 and keeps an Equal Weight rating on the shares. Netflix has come to be seen as a “defensive long” in the current macro backdrop and its Q1 results and Q2 guidance “are likely to reinforce this thesis further,” the analyst tells investors in a research note. The firm says that while the company’s revenue was roughly in line with consensus, margin for the quarter and margin guidance for Q2 were both better than estimates. It believes Netflix’s visibility remains high, which is likely to sustain the stock’s premium valuation.