Netflix price target raised to $485 from $475 at Deutsche Bank

Deutsche Bank analyst Bryan Kraft raised the firm’s price target on Netflix to $485 from $475 and keeps a Buy rating on the shares. The company’s Q2 results were light on revenue, but beat earnings estimates solidly on lower costs, the analyst tells investors in a research note. Subscriber net additions were also stronger than expected at 5.9M versus Deutsche’s 2M estimate, says the firm. It believes Netflix’s paid sharing is working.