The third season of the hugely popular Netflix series "House of Cards" has now been released. Some fans may have already binged-watched all 13 episodes, but the streaming media company—like the show's scheming main character Frank Underwood—appears to have a long-term plan in mind.
According to BTIG analyst Rich Greenfield, the company's "massive year" of original content is critically important to future growth.
Greenfield has a "buy" rating and a $600 price target on Netflix, which is about 33 percent higher than the Street's average rating and 25 percent higher than Netflix's current share price. The company's focus on creating high quality original programming remains a central pillar of his bullish thesis.
"If you look at the number of shows, basically every four weeks we're going to have something new and fresh to watch on Netflix with 'House of Cards'-like quality," he said on CNBC's "Fast Money" a few days ago.
Greenfield also broke down the impact that "House of Cards" has already had on Netflix.
"The return of 'House of Cards' last year actually had far more of an impact on new signups than season one," he said. That makes sense, he said, given the hype for original content that the first season created over the course of the year following its release.