Netflix price target raised to $495 from $470 at JPMorgan

JPMorgan analyst Doug Anmuth raised the firm’s price target on Netflix to $495 from $470 and keeps an Overweight rating on the shares. Heading into the Q2 earnings report on July 19, the analyst remains bullish on Netflix. The company has “more smoothly rolled out” paid sharing across 100 markets since late May, which should drive incremental revenue, subscribers and profit, the analyst tells investors in a research note. Less churn reaction means a “shallower J-curve” from which Netflix must recover, and accelerated acquisition could put the company on track with or even ahead of the 4-6 weeks recovery seen in Canada, says the firm.