Price target: $450 (from $415)
"Netflix shies away from talking about any one international market too specifically, but it called out growth in Asia, and we believe India is becoming a bigger factor," analyst Doug Anmuth said.
Anmuth added he believes previous Netflix products in India have proved to have strong traction, including Sacred Games, Lust Stories, and Ghoul. Selection Day, the 3rd original series in India, will be released in fourth quarter, infusing new momentum to drive subs growth.
"We believe content is strong into 4Q and 2019, and NFLX could again deliver more net adds next year than this year particularly as India & Japan gain greater traction," he said.
"The bigger picture path is consistent, and we continue to believe there is significant growth potential ahead, with Netflix on track to have 200 million global subs in 2020-2021."