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Goldman Sachs becomes a believer in Netflix

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…

Netflix signs Chelsea Handler for talk show

Netflix is venturing into fresh programming territory with a deal to stream a new talk show featuring outspoken comedian Chelsea Handler. Netflix (NFLX) said Thursday that Handler’s program will “revolutionize the talk show.” Her current show, “Chelsea Lately” on E!, ends its seven-year run on Aug. 26. Her new chat show on Netflix won’t air until early 2016. In the interim, Handler will do five comedy specials for Netflix. A one-hour standup-comedy performance from her current “Uganda Be Kidding Me Live” tour will premiere on Netflix on Oct. 10. Next year, Handler will create four comedy specials exclusively for Netflix, documenting her efforts to gain a better understanding of subjects ranging from NASCAR and politics to Silicon Valley and the NBA draft. “I wanted to sit with the cool kids at lunch, so I approached Netflix to make sure they were as cool as I thought they were, and when…

Netflix planning 6-country European invasion this fall

Subscription online video service Netflix is planning a major European expansion later this year. It announced Wednesday that it intends to launch in Austria, Belgium, France, Germany, Luxembourg and Switzerland in late 2014. Netflix (NFLX) entered the U.K., Ireland, Denmark, Finland, Norway and Sweden in 2012, and the Netherlands in 2013. It has over 48 million members in more than 40 countries. Netflix said it will offer a “curated selection of Hollywood, local and global TV series and movies,” including Netflix original series, in the new countries, according to a press release . Further details, including pricing, programming and supported devices, will be announced at a later date. Netflix stock was up more than 2%, near 380, in morning trading in the stock market today. Known for original English-language programming such as “House of Cards” and “Orange Is the New Black,” Netflix is starting to dip its toe …