Netflix Subscriber Growth Beats $NFLX Streams To New Highs After Earnings


Merrill Lynch reiterated a Buy rating and raised its price objective to $300.

Netflix reports strong upside of 8.3mn net new subs in 4Q vs. consensus estimates of 6.4mn- price increases not causing much churn. Key positives include strong 1Q18 guidance & domestic sub growth reaccelerating, while increased spend remains key risk. We are raising our PO to $300 as we expect Netflix to reach 310mn global subs sooner than expected.