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Netflix Stock Hits Record High, Analysts Predict Further Gains
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Netflix's stock hit $700 a share in August, with analysts predicting further gains. The stock reached an intraday high of $711.33 and closed at $698.54. Shares then dipped slightly, closing at $701.35. The stock is up 44% year-to-date. Despite facing competition and a slowdown in consumer spending, Netflix maintains an edge.
Jason Helfstein, an analyst at Oppenheimer, believes Netflix will dominate global content. He rates the stock "outperform" with a target price of $725. JPMorgan's Doug Anmuth is also bullish, viewing Netflix as a strong value despite price increases, with a target of $750.
Alicia Reese from Wedbush highlights Netflix's value during economic downturns. She also rates the stock "outperform" with a target of $725. The potential addition of live sports streaming, including NFL games this year and niche sports like cricket or Gaelic football, could expand Netflix's global reach.
Mark Mahaney of Evercore sees live sports as a significant long-term revenue opportunity. He rates Netflix "outperform" with a target of $750. Helfstein believes Netflix faces no serious long-term challengers. The stock might be expensive in the short term but holds promising prospects for the long term.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting and in-depth analysis. |
| Social Impact | 4 | Influences public opinion on stock market trends. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 5 | Almost certain to trigger investor interest. |
| Practicality | 4 | Directly applicable to investment decisions. |
| Entertainment Value | 3 | Attracts interest from entertainment and finance sectors. |