Netflix price target raised to $700 from $585 at Loop Capital

Loop Capital raised the firm’s price target on Netflix to $700 from $585 and keeps a Buy rating on the shares. The analyst cites Nielsen’s The Gauge and the company’s own weekly data that indicate improving trends while noting that near-term engagement and long-term macro / competitive trends for Netflix are positive. Cord cutting has accelerated last year, and the competitive environment for Netflix should ease as traditional media companies have raised streaming prices, the firm tells investors in a research note.