Netflix price target raised to $1,230 from $1,060 at Seaport Research

Seaport Research raised the firm’s price target on Netflix (NFLX) to $1,230 from $1,060 and keeps a Buy rating on the shares. The firm believes Netflix’s in-house advertising capabilities being built “with great flexibility in an array of formats, which will be a significant growth driver.” However, the company’s subscription price increases and membership growth will still underpin the majority of its revenue, the analyst tells investors in a research note. Seaport says that “while pricey,” the shares have also exhibited “recession-resilience.” This helps to frame the notion that Netflix shares should remain a core holding with limited downside, contends the firm.