Netflix price target raised to $350 from $250 at UBS

UBS analyst John Hodulik raised the firm’s price target on Netflix to $350 from $250 and keeps a Neutral rating on the shares. Hodulik expects Q4 to show progress toward re-accelerating growth but still believes new initiatives will take time to scale, the analyst tells investors in a research note. He believes subscribers tracked in-line with management’s guidance of up 4.5M vs. up 2.4M in Q3 amid a strong content slate and seasonality.