UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Netflix, Inc. on Multiple Price Drivers

In a report published Monday, Morgan Stanley analyst Benjamin Swinburne reiterated an Overweight rating on Netflix, Inc. NFLX, and raised the price target from $450.00 to $553.00. In the report, Morgan Stanley noted, "Our updated model presumes NFLX addresses ~200 markets, or 625mm HHs (ex-China) by YE17. We expect a market to reach contribution margin break-even, 20%, and maturity in 3, 5, and 10 years respectively. By 2025 (gulp), this generates $6.4bn EBIT. We raise our PTto $535, reiterate our OW rating." Netflix, Inc. closed on Friday at $474.91.