Netflix price target raised to $1,000 from $925 at Loop Capital

Loop Capital raised the firm’s price target on Netflix (NFLX) to $1,000 from $925 and keeps a Hold rating on the shares. The firm notes that it had expected content and engagement for the company to be strong, but also did not expect a record setting subscriber addition quarter with almost 19M subs – better than the almost 16M subs added in March 2020, the first quarter of Covid-related lockdown, the analyst tells investors in a research note. Netflix is the clear streaming leader, and the management is also raising prices, including a “healthy” 16% price increase on the domestic standard tier, the firm adds.