Netflix price target raised to $695 from $685 at Macquarie

Macquarie analyst Tim Nollen raised the firm’s price target on Netflix to $695 from $685 and keeps an Outperform rating on the shares. The company’s Q2 results largely beat expectations and its fundamentals are solid, the analyst tells investors in a research note. The firm says that while Netflix’s Q3 guidance implies a moderation in growth rates as it cycles against the paid sharing rollout in United States and Canada, or the United States, Canada, and Australia, the company edged up its full year guidance to 14%-15% revenue growth, 26% operating margin, and reiterated $6B in free cash flow. Macquarie cites improved fundamentals for the target increase.