Piper Sandler analyst Thomas Champion raised the firm’s price target on Netflix to $215 from $210 and keeps a Neutral rating on the shares. The company’s Q2 subscribers beat the guidance, but currency remains a “significant headwind” with management guiding to Q3 revenue growth of just 5% year-over-year, Champion tells investors in a research note. In addition, while the Q3 net additions guidance of 1M was an improvement from losses both of the past two quarters, it missed Street expectations at 2M, says the analyst. Champion believes it will take time for Netflix to re-accelerate sales growth.
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