"In our view, this is aggressive but possible, with the rapid proliferation of connected devices," BMO Capital Markets analyst Edward Williams wrote in a note.
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"Perhaps more importantly, this signals the timing of when the heavy investment phase could end."
Some analysts said the accelerated global rollout would boost the company's profits in 2017 and beyond.
J.P. Morgan Securities was the most bullish, raising its price target on the stock by $61 to $511. The stock, which closed at $348.80 on Tuesday, was trading at $412 before the opening bell on Wednesday.
The median price target on the stock is $450, according to Thomson Reuters data.
"... We believe Netflix is skillfully navigating the transition between slowing subscriber growth in the profitable U.S. segment and international expansion," Stifel, Nicolaus & Co analyst Scott Devitt wrote in a note, raising his target to $500 from $380.
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Netflix, which has a presence in about 50 countries, beat its own guidance by adding 4.3 million subscribers for the fourth quarter ended Dec. 31, helped by higher-than-expected interest overseas.