Netflix price target raised to $555 from $545 at Benchmark

Benchmark analyst Matthew Harrigan raised the firm’s price target on Netflix (NFLX) to $555 from $545 and keeps a Sell rating on the shares. While the firm acknowledges Netflix is “executing significantly better than other media companies with major global scaling advantages,” it contends that the stock “appears overpriced to us in a momentum market.” Top line and profitability growth will increasingly depend on pricing and newer initiatives such as ads and extensions like gaming as volume growth moderates, Benchmark tells investors.