UPDATE: BTIG Initiates Netflix at Buy on Positive Catalysts, Growth Expectations

BTIG analyst Richard Greenfield published a report on Netflix NFLX that initiated coverage with a Buy rating and $250.00 price target. In the report, BTIG wrote, "We believe Netflix is set to benefit from the perfect storm of catalysts (improving bandwidth, personalization of entertainment, slow-moving competition, ISPs ramping their marketing of Netflix, increasing content leverage, improved set-top box integration and increased consumer interest in advertising-free programming). With these catalysts and an improving price/value relationship, driven by increased programming spend and the subscription price remaining at $7.99, we expect subscriber growth and profitability to exceed expectations over the next few years." Shares of Netflix closed Friday at $173.20.