Investin.com - "The new king of all media."
That's what Bank of America (NYSE:BAC) called Netflix (NASDAQ:NFLX) in a note to clients.
The Wall Street firm raised its price target on the music streaming company by 30%, saying there is still more upside for the high-flying stock.
Several other Wall Street firms recently boosted their 12-month forecasts for Netflix.
Bank of America said Netflix can become "the dominant streaming player in all markets," thanks to its strong original content and the continuing shift of viewing from TV to the Internet.
The firm estimates Netflix will increase subscribership by 8% a year through 2030, hitting 360 million subscribers. That's almost three times the number Netflix had in the first quarter of this year.
Netflix shares are up about 100% this year and have more than doubled in the past 12 months.