Netflix price target raised to $525 from $470 at Canaccord

Canaccord analyst Maria Ripps raised the firm’s price target on Netflix to $525 from $470 and keeps a Buy rating on the shares. The firm noted they reported mixed Q2 results as net additions came in well ahead of CGe and consensus thanks to the rollout of paid sharing in May; however, revenue was slightly below expectations as ARM declined in the low single digits year-over-year, reflecting limited price increases, pressure from paid sharing, and an increasing mix of memberships in lower priced countries.