KeyBanc raised the firm’s price target on Netflix to $760 from $735 and keeps an Overweight rating on the shares. The firm as believes Netflix’s strengthening content slate should drive better viewership and support improved monetization. KeyBanc’s sense is Q3 results and Q4 guidance should not have any major surprises, as content catalysts are weighted toward the end of Q4. As content ramps and pricing levers are pulled, the firm sees potential for EPS of $24/$30 in 2025/2026.
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