To The Moon

Netflix jumped nearly 4% in morning trading as Wells Fargo boosted its price target to $400 from $300.Analyst Steve Cahall raised his rating on Netflix (NFLX) to overweight from equal-weight and boosted his price target to $400 from $300, noting that even though competition has increased, the boost from the early days of the COVID-19 pandemic has subsided and content growth slowed, there is still "scope" for the company's key performance indicators to exceed expectations in 2023. And with the stock down roughly 48% year-to-date, it looks like a good time for investors to jump in.