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Netflix stock gapped up to a record high Tuesday on a bullish report from investment bank Goldman Sachs. Goldman Sachs (GS) analyst Heath Terry upgraded Netflix (NFLX) stock to buy from neutral, with a 12-month price target of 590, up from 380. During intraday trading Tuesday, Netflix hit an all-time high of 468.40. Netflix was up 6%, near 467, on the stock market today. The streaming video service is poised to make big gains in international subscribers, Terry said. “As Netflix (NFLX) leverages the growth in the connected-device ecosystem and continues to expand internationally, we believe subscriber growth will continue to exceed expectations, driving margin expansion through significant scale benefits in content sourcing, customer acquisition and technology,” Terry wrote. The addressable market for Netflix’s subscription Internet-video service will more than double over the next three years to 207 million homes, he said. It is adding six new markets this year and… Scalper1 News
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