Netflix's record-breaking boxing match between legend Mike Tyson and influencer Jake Paul cements the company's status as the winner in streaming, according to Pivotal Research Group.
The firm raised its price target on Netflix to a Wall Street-high $1,100.
Pivotal said the change accounts for higher medium- and long-term subscriber and revenue estimates following the bout.
The event shown on Netflix notched 65 million live concurrent streams and 108 million total live viewers worldwide, making it the most-streamed global sporting event on record.
NFLX YTD mountain Netflix shares in 2024 "Our view remains unchanged that Netflix has won the global streaming race as evidenced by YTD results/raised guidance (especially relative to its streaming peers' results), and this is what, in our opinion, winning looks like," the analyst said.
Persons:
Mike Tyson, Jake Paul, Tyson, Paul, Jeffrey Wlodarczak, Wlodarczak
Organizations:
Research, Netflix