Piper Jaffray analyst Michael Olson maintains Overweight on Netflix (NASDAQ: NFLX) price target of $440.00.

The analyst comments "Netflix recently implemented a U.S. price increase and our previous domestic subscriber surveys showed a willingness for U.S. subs to pay more for the service. We expect Netflix will geographically stagger price hikes, suggesting int'l price increases are likely to take effect, in at least some int'l markets, in late '19 or 2020. In advance of these likely changes, we surveyed int'l subs to gauge willingness to pay more for Netflix. Our survey of ~1,100 int'l Netflix subs showed a weighted average willingness to pay >$1/mo more than current rates, with 50% of subs happy to pay more and the other 50% resistant. A $1/mo increase in int'l ASP would have a dramatic effect on our 2020 estimates, all else equal. We remain confident in Netflix leading the charge in capturing traditional content dollars as they transition to streaming..."

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Shares of Netflix closed at $363.91 yesterday.