UPDATE: Jefferies Color On NFLX Target Increase

Jefferies, which raised its PT on shares of Netflix, Inc. NFLX, is providing some color on the stock. “Below-Street EPS guidance overshadows solid subs estimate for 2Q,” Jefferies writes. “Subs. guidance looks strong heading into 2Q at 25.4M at the midpoint vs. consensus of 24.9M. EPS guidance, however, is below expectations on higher content and mktg costs. Subs adds are likely to face tougher comps in 2H11. 2Q11 revenue guidance is $778-798M on ending subs of 24.9-25.85M, and EPS of $0.92-$1.15.” Netflix closed Monday at $251.67.