Netflix price target raised to $510 from $480 at JPMorgan

JPMorgan raised the firm’s price target on Netflix to $510 from $480 and keeps an Overweight rating on the shares. The firm remain bullishs on the company’s ability to accelerate revenue growth in 2024, expand margins and drive multi-year growth in free cash flow, noting that paid sharing efforts have helped drive two straight quarters of strong subscriber growth and that it expects those benefits to continue for several quarters. After Netflix begins targeted price increases in the U.S. and other countries in Q4, the firm looks for the company to expand those efforts to other markets in 2024 and is also encouraged by the Q4 content slate, the analyst tells investors.