JP Morgan raises Netflix subscriber estimates, predicts big rally this year

The Netflix logo as seen on a smartphone
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Netflix shares rose slightly on Tuesday after J.P. Morgan raised its outlook for the internet streaming company and told clients to expect stronger international growth than at first anticipated.

Analyst Doug Anmuth wrote in a note that the brokerage's new model now shows Netflix on track for improved long-term subscriber numbers in addition to its compelling original content in the fourth quarter of 2019.

"Net-net, we come away with increased confidence in Netflix's multi-year international growth potential, and we are raising our longer term global paid streaming subscriber estimates," Anmuth wrote. Shares of Netflix were down nearly 1.5% midafternoon Tuesday.