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.
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