Jefferies raised the firm’s price target on Netflix to $780 from $655 and keeps a Buy rating on the shares. The firm believes Netflix is well positioned for another subscriber beat in Q2, given the robust content slate and success of password sharing initiatives driving near-term upside. Looking ahead, the firm sees the second half content slate, including NFL Games and Squid Games, supporting growth and raised its FY24 subscriber estimate by 1.3M members.
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