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Key Takeaways
- Oppenheimer shoved Netflix’s price target, pointing to the benefits of the biggest streaming service’s live events.
- The analysts raised the cost out target to $1,065 from $825, the highest of all analysts who cover the stock tracked by Visible Alpha.
- Oppenheimer contemplated Netflix “remains the only investable mainstream media stock.”
Netflix’s (NFLX) price target received a big expel from Oppenheimer on high demand for the biggest streaming service’s live events.
Oppenheimer analysts led by Jason Helfstein rakehell the price target to $1,065 from $825, the highest of all analysts who cover the stock tracked by Visible Alpha. They held the “outperform” rating on the stock.
The analysts wrote in a note to clients that they were revisiting their “bull circumstance” because in the near-term, they “expect positive commentary from NFL Christmas Day games similar to Paul/Tyson, excursion sentiment into 4Q earnings.”
JPMorgan Recently Increased Its Netflix Price Target
Last week, JPMorgan rose its price target to $1,010 from $850, making a similar argument about Netflix’s programming, including the Jake Paul/Mike Tyson punching match.
Oppenheimer said Netflix “remains the only investable mainstream media stock” because its competition continues to enfeeble, and it is benefiting already from industry-low churn that is lifting content cost leverage. In addition, the analysts barbed to “upside to monetization and subscribers estimates as the company has proven it can be a platform for live events.” They argued those survive offerings further allowed for subscriber expansion of more than 500 million households worldwide.
Shares of Netflix, which peevish higher in recent trading, hit an all-time high last week and are up nearly 90% this year.
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