Deutsche Bank analyst Bryan Kraft raised the firm’s price target on Netflix (NFLX) to $875 from $650 and keeps a Hold rating on the shares following the Q4 report. The firm says the “significant positive revision” to its subscriber forecast more than offsets currency exchange rate headwinds. Deutsche cites a significant increase in its multi-year earnings and free cash flow forecast for the target boost. However, the analyst does not see an upside case that would warrant upgrading the stock now.
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