Phillip Securities adjusted its stance on Netflix (NASDAQ:NFLX) stock, downgrading the rating from Neutral to Reduce, even as the firm increased the price target to $870 from the previous $695. The revision comes in the wake of Netflix's strong membership growth and the success of its advertising business,

Just after announcing that it added 19 million new subscribers, Netflix announced that it's raising prices for all 302 million U.S. subscribers. In its quarterly earnings report for the end of last year,