Netflix price target raised to $400 from $350 at Deutsche Bank

Deutsche Bank analyst Bryan Kraft raised the firm’s price target on Netflix to $400 from $350 and keeps a Buy rating on the shares after what he called "an outstanding net add quarter." He believes the company’s "Paid Sharing" initiative will not only reaccelerate subscriber and revenue growth, but also drive margin improvement and better free cash flow conversion while offering the potential for "material upside surprises in quarterly net adds this year," Kraft tells investors.