Streaming giant Netflix could become a bigger deal outside of the U.S., according to RBC Capital Markets.
The firm sees Netflix's stock rallying more than 30% in the next year thanks to an "international surge." RBC Capital Markets has a $420 per share 12-month price target on Netflix. The stock closed at $332.22 on Thursday.
"We believe International could actually be as or more profitable than the U.S.," said RBC analyst Mark Mahaney in a note to clients on Thursday.