Netflix price target raised to $270 from $230 at KeyBanc - InvestingChannel

Netflix price target raised to $270 from $230 at KeyBanc

KeyBanc analyst Andy Hargreaves raised his price target for Netflix to $270 saying the company’s upcoming Q4 results “should remain solid.” The streaming service closed yesterday up $2.83 to $220.33. The analyst raised his 2018 global net subscriber addition estimate to 20.6M from 19.3M citing sustained growth in the U.S. and an increase to his international total addressable market estimate. He sees potential for upside to subscriber estimates through 2018 and continues to recommend owning shares of Netflix with an Overweight rating. Netflix is the global leader in subscription video in the internet era, Hargreaves tells investors in a research note.