Netflix gets its second $500 price target this week

9:43 AM ET Thu, 21 June 2018

Pivotal Research Group analyst Jeffrey Wlodarczak raises his 12-month price target on the video-streaming giant on Thursday to $500 from $420 per share. "We expect yet another solid result (and 3Q guidance) in the seasonally weaker 2Q driven by content launches, aggressive increases in marketing spend and the natural momentum of the business," Wlodarczak says in a note to clients. He also said the recently approved AT&T-Time Warner acquisition could boost Netflix shares moving forward.