Netflix price target raised to $735 from $700 at Guggenheim

Guggenheim raised the firm’s price target on Netflix to $735 from $700 and keeps a Buy rating on the shares. Member trends remain critical and third-party data points to a “strong” second quarter, says the analyst, who believes this is digested by investors, who on average expect 8M-9M net member additions in Q2 based on the firm’s recent buyside survey. Consistent with the trend from the firm’s third-party data sources, Guggenheim has raised its Q2 member growth estimate to 6.0M from 4.8M.