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Netflix (NFLX) Stock Rating Initiated at BMO Capital

NEW YORK (TheStreet) -- Netflix (NFLX - Get Report) stock was initiated with a "market perform" rating and $115 price target at BMO Capital.

The Internet television network has been the "focal point" for disruption to the traditional television industry, and the stock's valuation is in line with the "inherent risks" of being this type of disruptive company, BMO Capital said in a note. The firm would need to see a pullback or incremental news such as faster-than-expected international expansion to up its rating on the stock.

Uncertainties facing Netflix include its production of more original content, pricing power for the service and a risk of greater marketing expense growth amid higher competition and new market expansion, BMO Capital added.

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"But all in all, we view Netflix as a highly dynamic...