Netflix price target raised to $1,065 from $825 at Oppenheimer

Oppenheimer analyst Jason Helfstein raised the firm’s price target on Netflix (NFLX) to $1,065 from $825 and keeps an Outperform rating on the shares. The firm believes Netflix remains the only investable mainstream media stock driven by competition continuing to weaken, benefiting already industry-low churn and driving content cost leverage; and upside to monetization and subscribers estimates as the company has proven it can be a platform for live events further unlocking over 500M global households. Near term, Oppenheimer expects positive commentary from NFL Christmas Day games similar to Paul/Tyson, driving sentiment into Q4 earnings.