BofA/Merrill Lynch maintained a Buy rating on Netflix (NASDAQ: NFLX) and raised its price target to $133.00 (from $121.00). Analyst Nat Schindler noted key partnerships are in place for Japan launch on September 2. Though Japan is seen as a tough nut to crack, the fragmented SVOD market creates an opportunity, said the analyst.

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Shares of Netflix closed at $115.03 yesterday.