JPMorgan analyst Doug Anmuth raised his price target for Netflix (NFLX) to $140 following the company's Q3 results. The stock was up 19%, or $18.84, to $118.64 in pre-market trading.
Netflix is almost past its pricing changes and the benefits are starting to show up in the numbers, Anmuth tells investors in a research note. He believes the company's originals are working well, and notes some have global appeal. Anmuth thinks Netflix sets up as a "cleaner story" into 2017 and he reiterates an Overweight rating on the shares.
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