Netflix price target raised to $400 from $385 at Jefferies

Jefferies analyst Andrew Uerkwitz raised the firm’s price target on Netflix to $400 from $385 and keeps a Buy rating on the shares. Paid net adds of 7.66M vs. guidance of 4.5M makes this quarter feel "normal," especially in light of the beat driven by content, not AVOD, Uerkwitz tells investors in a research note. Management sounded confident that AVOD is doing well in the "crawl stage," and password sharing is set to roll out in late Q1, ahead of expectations, the analyst writes.