Pro Analysis

William Blair: Netflix can rally 22% this year as it ramps up foreign content

A remote control is seen being held in front of a television running the Netflix application
Jaap Arriens | NurPhoto | Getty Images
A remote control is seen being held in front of a television running the Netflix application

Netflix is up more than 50 percent from its December lows, and William Blair said its rocket ride has more room to run, seeing another 22 percent gain this year.

William Blair is particularly bullish on Netflix's foreign original content. The media streaming company has increased its international paid memberships by 35 percent on average over the past four years. While Wall Street is seeing a limit to this expansion, projecting a 1 percent decline in international subscriptions for 2019, William Blair said the consensus could "underestimate" Netflix's momentum.