Barclays Capital Reiterates Equal-Weight, Raises PT On Netflix on Limited Upside

In a report published Tuesday, Barclays Capital analyst Paul Vogel reiterated an Equal-Weight rating on Netflix, Inc. (NASDAQ: NFLX), and raised the price target from $400.00 to $450.00.

In the report, Barclays Capital noted, "Netflix is a widely popular product, driving the adoption of over-the-top viewing and non-linear programming. Despite the growth, we have often wrestled with how to value the stock, given the relatively low profit per customer, increased content spend and stepped up global competition. With increased spending likely to continue to depress margins and our increased conviction on slowing US subscribers we see limited upside to the stock at current levels."

Netflix closed on Monday at $425.00.