Netflix price target raised to $660 from $555 at Citi

Citi analyst Jason Bazinet raised the firm’s price target on Netflix to $660 from $555 and keeps a Neutral rating on the shares. The company’s net subscriber additions have exceeded consensus estimates for three consecutive quarters, driven by the advertising tier and password crackdown, the analyst tells investors in a research note. Looking ahead, Citi expects Netflix to continue to see “healthy” subscriber growth. It sees scope for consensus subscriber estimates to move higher and increased the price target to reflect stronger subscriber growth.