Netflix price target raised to $735 from $707 at KeyBanc

KeyBanc raised the firm’s price target on Netflix to $735 from $707 and keeps an Overweight rating on the shares. The firm believes the upcoming print will reinforce that net additions remain strong into a robust content slate and monetization initiatives, the analyst tells investors in a research note. Recent price increases by competitors and ongoing low rates of churn support Netflix price increases over coming quarters, and Netflix has ample room to sustain more than 10% annual revenue growth with 2%-3% annual operating margin expansion as pricing returns to a more normal cadence.