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Netflix, Inc. (NASDAQ: NFLX)'s stock has surged during the past two trading sessions after the company announced that it is now live in 130 new countries, including major markets India and Russia. Shares traded recently at $118.82.
Here's what seven Wall Street firms have to say about the stock following the announcement.
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MKM Partners
Analyst Rob Sanderson called Netflix his "highest conviction large cap over the next few years" and maintained his Buy rating and $145 price target.
UBS
Analyst Doug Mitchelson said the announcement "increases Netflix's addressable int'l coverage by 50% in one day." He maintained his Buy rating but upped his price target from $143 to $147.
Bank of America
Analyst Nat Schindler said the announcement "effectively makes Netflix the world’s first global TV platform." The firm has a Buy rating and $137 price target on the stock.
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Goldman Sachs
Analyst Heath Terry believes Netflix "can create significant shareholder value by replicating its model globally, driving scale benefits, and expanding margins." Goldman has a Buy rating and a $140 target for the stock.
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Jefferies
Analyst Brian Fitzgerald said Netflix is now "ahead of schedule on global expansion," but remains cautious on the pricey stock. The firm maintained a Hold rating and $105 price target.
Stifel
Analyst Scott Devitt predicts "this drastically accelerated expansion pace suggests 1Q:16 consensus subscriber forecasts may go up meaningfully." The firm maintained a Buy rating and $143 price target for Netflix.
Pacific Crest
Analyst Andy Hargreaves said the expansion "is likely to generate significant scale and efficiency benefits that we believe can drive further gains and continued strong equity appreciation." The firm has an Overweight rating on Netflix and a $140 price target.
Disclosure: the author has no position in the stocks mentioned.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.