Netflix: stock up as BofA raises target price
(CercleFinance.com) - On Thursday, Bank of America raised its target price for Netflix from $800 to $1,000, believing that the broadcasting of live events could represent a considerable opportunity for the American group.
cp +1.5%.
The broker points out that the boxing match between Jake Paul and Mike Tyson was watched by 60 million households last week, with a peak of 65 million - a record in the streaming world.
BofA nelieves that this success reinforces Netflix's ambitions in the broadcasting of live events, particularly in sports, as the group prepares to broadcast two NFL American soccer games on Christmas Day, one of which will be accompanied by a Beyoncé concert.
The broker, which maintains its buy recommendation on the stock, believes that live events and advertising are two complementary growth drivers, as this type of content is more likely to attract top-tier advertisers.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
cp +1.5%.
The broker points out that the boxing match between Jake Paul and Mike Tyson was watched by 60 million households last week, with a peak of 65 million - a record in the streaming world.
BofA nelieves that this success reinforces Netflix's ambitions in the broadcasting of live events, particularly in sports, as the group prepares to broadcast two NFL American soccer games on Christmas Day, one of which will be accompanied by a Beyoncé concert.
The broker, which maintains its buy recommendation on the stock, believes that live events and advertising are two complementary growth drivers, as this type of content is more likely to attract top-tier advertisers.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.