Netflix Target Raised....

FBR Capital analyst Heath Terry this morning repeated his Outperform rating on Netflix (NFLX), while lifting his price target on the shares to $130, from $100.

“We continue to believe that Netflix is in the sweet spot of its growth phase: closing rental stores and expanding streaming options are driving significant subscriber growth, while the impact of rising content costs is more than offset by declining fulfillment costs,” he writes.

In particular, Terry says that the success of the company’s Apple iPad app and the coming addition of apps for the iPhone and iPod Touch, “should drive meaningful incremental subscriber growth, lower churn, and lower subscriber acquisition costs.”

Concludes Terry: “With growth accelerating in the quarters ahead and consensus expectations still withinmanagement’s typically conservative guidance, we believe that the potential for upside to consensus expectations far outweighs the risk to the down side.”

Of course, the focus today is on the macro, not the micro. Ergo, NFLX is down $1.67, or 1.6%, to $99.95.