Netflix price target raised to $425 from $400 at Pivotal Research

Pivotal Research raised the firm’s price target on Netflix to $425 from $400 and keeps a Buy rating on the shares. Q1 results were highlighted by management’s decision to delay implementing wide paid sharing monetization from Q1 to Q2, the analyst tells investors. In the quarter, management noted that, after an initial quarter churn period, there was a quick rebound in subscribers in the subsequent quarter and accelerating revenue growth, Pivot says. Netflix represents a "frankly unique tech growth story" and remains well positioned to generate subscriber and revenue / free-cash-clow growth even with a potential global recessionary environment, the firm argues.