David Miller from Topeka Capital Markets is continuing with his ‘Buy’ rating on Netflix, Inc. (NASDAQ:NFLX)‘s stock, but has increased his price target for the share from $517 to $527. Barron’s reported on this, in one of its blog posts. Miller raised his price target for the stock because he raised his 2015 revenue estimate for Netflix, Inc. (NASDAQ:NFLX) on the back of a higher International streaming subscriber count.
Miller mentioned in the report to his clients that Netflix, Inc. (NASDAQ:NFLX) has come a long way and from next month will be in a broad push in countries including France, Austria, Switzerland, Belgium, and Luxembourg. He also mentioned that Netflix, Inc. (NASDAQ:NFLX) will launch an aggressive marketing campaign in those countries in the next two weeks. According to Miller, his calculations show that Netflix, Inc. (NASDAQ:NFLX) has a good chance of achieving over 25 million International Streaming members by the end of 2015, which made him raise End Of Year (EOY) 2015 International subscriber estimate from 23.2 million to 25.42 million.