Netflix price target raised to $765 from $700 at Pivotal Research

Pivotal Research raised the firm’s price target on Netflix to $765 from $700 and keeps a Buy rating on the shares. The analyst says the target is a high on the Street and reflects higher 2024 and beyond subscriber and average revenue per user forecasts. The higher forecasts are a result of continued solid momentum in the core business and the attractive absolute and relative value that the Netflix service is offering to consumers, the analyst tells investors in a research note.