Netflix price target raised to $390 from $340 at Argus

Argus analyst Joseph Bonner raised the firm’s price target on Netflix to $390 from $340 and keeps a Buy rating on the shares. The company’s net paid subscriber data in Q4 "nicely outperformed" its prior guidance as its management continues to focus on reigniting revenue growth, the analyst tells investors in a research note. Bonner adds that while Netflix is experiencing a difficult period amid intense competition and economic headwinds, it remains the "anchor tenant" for consumers in video streaming, further citing its management’s focus on strategic continuity in its production of original buzzworthy content and its aim to improve the "content discovery" process for subscribers.