Wall Street analysts continue to chase Netflix stock higher as the internet television network basks in the success of its recent live boxing match featuring Jake Paul vs. Mike Tyson.
On Thursday, BofA Securities analyst Jessica Reif Ehrlich reiterated her buy rating on Netflix stock and increased her price target to 1,000 from 800.
On Wednesday, Pivotal Research Group analyst Jeffrey Wlodarczak kept his buy rating on Netflix stock and hiked his price target to 1,100 from 925.
Netflix shares notched a record high 908 in intraday trading on the stock market today. NFLX stock ended the regular session up 1.5% to 897.48.
In a client note, BofA's Reif Ehrlich said the Paul-vs.-Tyson fight was "an emphatic proof point of Netflix's ability to aggregate global reach at scale for live events."
More than 60 million households tuned in to watch the fight last Friday.
"Despite the reported technical issues, we see this 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," she said.
Netflix Stock Is On Two IBD Lists
Live programming will fuel advertising sales for Netflix's ad-supported subscription tier, Ehrlich said. Up next for the streaming video leader are two Christmas Day NFL football games.
Next year, Netflix will begin a 10-year contract to broadcast the pro wrestling series "WWE Monday Night Raw." The live series will premiere on Jan. 6, the company said.
Pivotal's Wlodarczak said the boxing match was a "learning experience" for Netflix. The technical glitches during that event are not likely to happen for future live events on Netflix, he said.
"Our view remains unchanged that Netflix has won the global streaming race as evidenced by year-to-date results and raised guidance," he said in a client note.
Netflix stock is on two IBD lists: IBD 50 and Big Cap 20.
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