Cantor analyst Youssef Squali was out pounding the table on Netflix, Inc. (NASDAQ:NFLX) Thursday, reiterating a Buy rating and price target of $140, which implies an upside of 53% from current levels.

Squali wrote, “We remain positive on NFLX despite some short-term headwinds, likely to be brought upon by the August Olympics, the ongoing un-grandfathering of the $7.99 plan in 2H16 and tougher Y/Y comps given the launch of Japan/Southern Europe in 2H15. The introduction of the much-anticipated Disney content starting in September, a great slate of originals and growth from the January global launch should sustain growth momentum into 2H16 and beyond, in our view.”

“Netflix has historically not been a cheap stock, and it is not one today. That said, it continues to offer a compelling risk/reward profile long term, in our view, benefiting from the shift to OTT, brand, scale and focus […] Assuming management can hit our long-term revenue and profitability targets, we believe that the stock can support a $140 PT,” the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Youssef Squali has a yearly average return of 14.5% and a 61.5% success rate. Squali has a 52.2% average return when recommending NFLX, and is ranked #14 out of 3980 analysts.