Netflix's (NFLX) - Get Report hit show "House of Cards," which began streaming today, has caused brokerage firm Loop Capital to raise its price target on the streaming giant's stock to $180 from $172.
The firm's call is rooted in Netflix's ability to drive subscriber growth.
David Miller, Loop Capital's managing director, noted that Netflix delivered 2.23 million domestic subscribers when "House of Cards" fourth season debuted in the first quarter of 2016, exceeding Wall Street's projections.
"The next 1-2 weeks' worth of trading sessions should be very interesting, and likely rewarding, for long investors of NFLX because of [House of Cards' return]. ... We believe the same pattern is set to take place here." Miller wrote.
"We do admit that there are certain original series produced in-house by NFLX which clearly move both the U.S. and International subscriber lines, and hence, move the stock, and House of Cards is one of them," he added.
Shares of Netflix were higher during the final hour of trading on Tuesday.
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