Citi raised the firm’s price target on Netflix (NFLX) to $1,295 from $1,250 and keeps a Neutral rating on the shares. The firm updated its model to reflect Q2 results and its latest outlook, which includes a higher revenue forecast and a modestly lower earnings per share view, as it now assumes higher back-half operating expense growth. Such growth would be driven by the firm’s continued investment in its ad platform, the analyst tells investors in a research note.
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