Netflix price target raised to $320 from $225 at Loop Capital

Loop Capital analyst Alan Gould raised the firm’s price target on Netflix to $320 from $225 and keeps a Hold rating on the shares. The company should benefit from improving economics of the streaming business as traditional media players are forced to rationalize their spending, the analyst tells investors in a research note, also noting that its ad-tier will be revenue accretive, even though he now sees a more modest $0.8B and $2.0B in 2023 and 2024 revenue contributions respectively. Gould adds that he has raised his Q4 revenue forecasts slightly to $8.03B fin $7.84B on strong content and slightly improving currency relative to the beginning of the quarter.