Netflix Hits Fresh Peak : Retail Takes A Breather

The rally followed bullish analyst notes that overshadowed criticism of technical glitches during Netflix’s largest live-streaming event to date.

Wedbush Securities on Monday raised its price target for Netflix to $950 from $800, maintaining an ‘Outperform’ rating. Analyst Alicia Reese emphasized the success of the Mike Tyson versus Jake Paul boxing event, which demonstrated Netflix’s global reach and potential in live sports.

Reese highlighted the company’s ability to drive substantial viewership for regional sporting events, positioning live content as a future driver of ad-tier revenue growth.

“While the press will focus on the technical bandwidth issues and customer complaints, our guess is that viewing was likely [approximately two times] internal expectations, a high-quality problem that can easily be fixed by Christmas Day,” Oppenheimer’s Jason Helfstein said.

Netflix shares have surged more than 85% year-to-date, driven by the company’s evolving content strategy and the success of its advertising-supported subscription tier.