BofA raised the firm’s price target on Netflix to $1,000 from $800 and keeps a Buy rating on the shares after 60M households, or 108M global live viewers from opening to closing bell, watched the Jake Paul versus Mike Tyson boxing match. The fight, the most-streamed sporting event of all time, was “an emphatic proof point of Netflix’s ability to aggregate global reach at scale for live events,” the analyst tells investors. The firm views the event as a positive for Netflix’s ambition in live/sports and also as it relates to the company’s ability to drive growth in advertising, despite the reported technical issues, the analyst added.
next post