TD Cowen analyst John Blackledge raised the firm’s price target on Netflix to $725 from $600 and keeps a Buy rating on the shares. The firm previewed its Q1 results and raised subscription estimates and now expects paid 1Q24 net adds of +5.11M, above consensus of +4.11M and reflecting continued paid sharing momentum. Cowen said Netflix is benefiting from a dual tailwind of paid sharing initiatives as well as strong underlying business demand from a robust, increasingly global content slateand noted Ad tier adoption is also ramping.
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