Netflix Stock Receives Big Price Target Raise on Live Events | Global News Avenue

Netflix (NFLXOppenheimer raised its price target significantly due to high demand for live events on the largest streaming service.

Oppenheimer analysts led by Jason Helfstein raised their price target to $1,065 from $825, the highest of any analysts covering the stock tracked by Visible Alpha. They maintained an “outperform” rating on the stock.

Analysts wrote in a note to clients that they were revisiting their “bull ” because in the short term, they “expect the NFL Christmas Day game to see positive Paul/Tyson-like commentary, driving sentiment toward fourth-quarter earnings. “

JPMorgan Chase recently raised Netflix price target

Last week, JPMorgan Chase Increase Cutting its price target to $1,010 from $850 makes a similar argument for Netflix’s shows, including the Jake Paul/Mike Tyson boxing match.

Oppenheimer said Netflix “remains the only investable mainstream media stock” as its competition continues to weaken and it has benefited from low industry churn, which increases content cost leverage. Additionally, analysts note that “there is room for upside in both monetization and subscriber estimates as the company has proven it can be a platform for live events.” They believe these live streaming services further expand its subscriber base to more than 500 million households worldwide.

Netflix shares have edged higher in recent trading, hitting a record high last week and up nearly 90% this year.