Jefferies Raises Target On Netflix (NFLX) to $240

Jefferies raised its price target on Netflix (NASDAQ: NFLX) from $210 to $240, but kept its Hold rating.

The firm states, "Solid sub. growth and higher ARPU drove strong 1Q results, but higher content and mktg costs drove below-consensus 2Q EPS guidance. Sub growth comps get tougher in 2H11. We maintain a Hold rating on 1) full valuation on relatively aggressive LT subs/margin assumptions, 2) growing competition from TV Everywhere, AMZN, and DISH, and 3) higher content spend."

For more ratings news on Netflix click here and for the rating history of Netflix click here.

Shares of Netflix are down 6.3 percent today to $235.81.

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