Netflix Inc. (NFLX) Reveals Japan Launch, Guggenheim Sets $160 TargetAuthor: Paul SheaLast Updated: March 12, 2020 Netflix Inc. shares hit a new all time high of more than $122 per share on Tuesday after the firm revealed plans to launch its service in Japan in the coming month. The launch will be the first the firm has made in an Asian market, and will be a make or break moment for its growth across the globe.At time of writing shares in Netflix were selling for $120.27, up 6.85 percent for the day’s trading so far. The move brings the firm’s price growth in the last month to more than 28 percent. Netflix, which launched a new Netflix Japan Twitter account, said that it would openin Japan on September 2, less than a month from today. Netflix grows fasterThat means that Netflix will be able to record the mass of new users from Japan in its earnings report for the three months through September. That means that growth numbers are likely to be much higher than Wall Street was pricing in. Traders on Tuesday were buying into the firm’s quick global growth.Japan is a nation of more than 120m people who are huge media consumers. Unlike a launch in China, the Japan launch will be met with high quality infrastructure and an addressable market the same size as the population.Netflix is on a tear toward spreading its service across the whole world. In the coming months the firm expects to get into markets in Spain, Portugal, and Italy. By the end of next year the firm’s CEO Reed Hastings has promised that Netflix will be on demand in more than 200 countries.That’s something very few of the world’s firms can boast of. Wall Street, as can be seen from today’s surge, has taken notice of that growth, and one outspoken firm may have caused some of the ramp up in the firm’s share price on Tuesday.Wall Street buys into NetflixResearch house Guggenheim added fuel to the fire on Tuesday morning. They started covering shares of Netflix today and started the stock with a Buy rating and a price target of $160. Guggenheim said that “Netflix is the antidote to limited linear options, commercial interruptions,” for users, and offers something to those that make content at the same time.The report, which was authored by Michael Morris and Curry Baker says that the backing the firm gives to those with content to make and sell is one of the major reasons for its success.Morris and Baker say that “The implied market capitalization at our target is $70 billion, which we feel may ultimately prove to be modest for the Internet TV industry leader.” That’s a huge target that’s acting as a magnet for shares in Netflix on Tuesday.Netflix market cap now stands at over $50B, a huge amount for a firm that made just 44 cents per share last year. Netflix does make a profit, however, something that shows its relative worth compared to other growing tech concerns.