Netflix price target raised to $500 from $485 at Wolfe Research

Wolfe Research raised the firm’s price target on Netflix to $500 from $485 and keeps an Outperform rating on the shares post the Q2 results. For the first time, Netflix met high expectations for subscriber growth and the stock traded down, the analyst tells investors in a research note. The firm says the company’s results and commentary on 2023 average revenue per user met Wolfe’s expectations but fell short of a “too bullish” consensus.