Netflix (NFLX) PT Raised to $198 at Piper Jaffray

Piper Jaffray raised its price target on Netflix (NASDAQ: NFLX) to $198.00 (from $190.00) while maintaining a Overweight rating.

Analyst Michael Olson believes that Street estimates remain too low. He expects the company to achieve domestic contribution margin of 40% by 2020 saying the Street expectations "should prove conservative." He comments on international contribution margins for 2020 saying his own estimates may prove to be potentially low at 27%.

FY 2017 EPS estimate falls from $1.13 to $1.12, FY 2018 EPS estimate falls from $2.04 to $1.92 and FY 2019 EPS estimate rises from $3.58 to $3.61

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