UBS hikes price target for Netflix, says subscriptions will pick up in second half of the year

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Jesse Pound@/in/jesse-pound@jesserpound
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Netflix co-founder Reed Hastings attends a red carpet for the Netflix launch at Palazzo Del Ghiaccio on October 22, 2015 in Milan, Italy.
Jacopo Raule | Getty Images

Netflix's subscription growth is poised to accelerate in the second half of the year, and that should push the company's stock higher, according to UBS.