Netflix price target raised to $767 from $660 at Argus

Argus analyst Joseph Bonner raised the firm’s price target on Netflix to $767 from $660 and keeps a Buy rating on the shares. The company continues to reaccelerate revenue growth as it has launched a low-priced advertising-supported subscriber plan in November 2022 and is already making enhancements to increase its value proposition to customers, the analyst tells investors in a research note, also noting that the crackdown on password sharing has also boosted subscriber additions. Netflix is also making incremental moves into live event sports programming, which is particularly directed to enhancing its advertising market as live events have a higher value for advertisers than typical scripted content and the NFL holds the most value in the U.S. sports broadcast ecosystem, the firm added.