Netflix rallies as Wedbush ups target on ‘massive’ sports opportunity

Wedbush analyst Alicia Reese raised the firm’s price target on Netflix (NFLX) to $950 from $800 and kept an Outperform rating on the shares following the Mike Tyson versus Jake Paul boxing match. Netflix’s fight night “underscored its massive opportunity in live sports,” the analyst tells investors in a research note. The firm thinks the company is positioned to accelerate its advertising tier revenue growth contributing for the next several years, as it adds more live events, improves its advertising solutions and targeting, and utilizes new partnerships. It expects the ad tier to become Netflix’s primary revenue growth driver in 2026. Netflix has “reached the right formula with global content creation, balancing costs, and increasing profitability, contends Wedbush. The stock in afternoon trading is up 2%, or $20.18, to $844.15.