Are Netflix's Coming Earnings Worth Being Excited About?

In a report published Friday, Oppenheimer analysts maintained an Outperform rating on

, with a price target of $483, ahead of 1Q results. In the report Oppenheimer noted, "We believe the record number of global tier-1 original show launches and positive Google Trends data bode well for results and guidance. History suggests that tier-1 original shows have the highest impact on net subscriber additions." Since early March, Netflix has launched three new shows worldwide and has another four in the pipeline. Moreover, Google Trends data indicate "solid momentum" in a number of international markets, especially Brazil and Italy. The data also indicates that US interest in April has been the highest since 2011. "We believe this reflects increased interest in NFLX original programming," the analysts mentioned.