Netflix Inc (NFLX)

[The Rainmaker]

Oppenheimer-NFLX
"We are increasing our target to $370 from $285 after NFLX reported better 1Q results and provided 2Q guidance implying minimal slowdown in growth. In our view, multiple consecutive strong domestic net additions quarters are being driven by bundling and incremental marketing, likely resetting terminal penetration to high end of 60-90M guide (assumption was low-mid end previously). Internationally, bundling and faster original content ramp offers opportunity to penetrate new market cohorts faster while TAM is likely to expand from fixed-broadband subs to mobile users."