The Netflix logo is shown in this illustration photograph in Encinitas, California.
Mike Blake | Reuters
(This story is for CNBC Pro subscribers only).
Netflix's stock price could surge by more than 30% over the next year and is set to report a blowout second quarter, according to a new note from Goldman Sachs.
The bank hiked its price target on the streaming video stock to $670 per share, a new high among major Wall Street analysts. Goldman's previous target price was $540 per share.
Here's what's behind the call:
