Netflix (NFLX) PT Raised at FBR on 'Encouraging' Q1 Results

FBR Capital analyst Barton Crockett bumped his price target on Netflix (NASDAQ: NFLX) from $356 to $393 following 'encouraging' Q1 results but maintained a Market Perform rating.

He commented, "The company is pulling the trigger on price hikes, delivering better operating leverage internationally than we expected, and meeting lofty subscriber growth expectations domestically while beating them internationally. Because of these positives, we are now arguing that international is worth more than the U.S. and raising our price target $37 to $393. But we still do not see enough valuation upside to argue that the risk justifies the reward potential in going long the shares at this level and retain our Market Perform rating."

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $348.49 yesterday.

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