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Raymond James cut its price target on Netflix (NFLX - Get Report) to $415 from $450 and maintained its strong buy rating.

The price target implies a 47% increase from the online streaming company's price Friday at around $283. 

Netflix is expected to report third-quarter earnings after the closing bell on Wednesday.

Analysts surveyed by FactSet forecast earnings of $1.03 a share on sales of $5.25 billion. The company forecast third-quarter earnings of $1.04 a share on sales of $5.25 billion, up from year-earlier earnings of 89 cents a share on sales of $4 billion.

The stock rose 1.1% in trading Monday to $286.