Shares of Netflix  (NFLX - Get Report) were up nearly 2% premarket after analysts at Piper Jaffray raised the company's price target to $190 per share from $166 while maintaining an "overweight" rating. 

Analysts at the firm believe that Wall Street has low-balled the company's 2020 earnings expectations by as much as half. 

"If, in the 24 quarters after hitting 20 million subs (which will occur at end of 2020), the int'l streaming business is anywhere close to the market share and margin levels achieved by domestic, then 2020 consensus EPS for Netflix would be ~100% too low," analyst Mike Olson wrote. 

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