Netflix price target raised to $700 from $580 at Jefferies

Jefferies raised the firm’s price target on Netflix to $700 from $580 and keeps a Buy rating on the shares after making a few assumption changes to the firm’s model. The firm “slightly” tweaked subscriber estimates higher on a continued belief that weaker competition and password sharing helps convert borrowers to payers and takes marketing cost estimates higher given a robust slate of content coming, the Tyson/Paul event and the WWE partnership, the analyst tells investors.