Netflix price target raised to $525 from $475 at Wedbush

Wedbush analyst Michael Pachter raised the firm’s price target on Netflix to $525 from $475 and keeps an Outperform rating on the shares following quarterly results. Netflix remains on Wedbush’s Best Ideas List, given the firm’s view that the company can generate significantly more free cash flow than its guidance suggests. Wedbush thinks Netflix has reached the right formula with its global content to balance costs and generate increasing profitability, while its ad-supported tier and password sharing crackdown should further boost cash generation.