Netflix (NFLX) International Expansion a Positive, Stifel Says

Stifel analyst Benjamin Mogil reiterated his Buy rating and $475 price target on Netflix (NASDAQ: NFLX) Wednesday after the company announced that it will launch in Germany, France, Austria, Switzerland, Belgium and Luxembourg in late 2014.

Mogil commented, "The launch in Germany and France is as expected with Austria and Belgium being incremental. We view this as positive as Austria has similar programming tastes to Germany and Belgium to France. Our model assumes a late 3Q14 launch and we assume that across 3Q14 and 4Q14 that international net additions will be 4.1mn subscribers. We plan to update our model when timing and pricing become more firm."

For an analyst ratings summary and ratings history on Netflix click here. For more ratings news on Netflix click here.

Shares of Netflix closed at $371.67 yesterday.

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