Two catalysts may send shares of Netflix even higher in the months ahead, according to Bank of America.
Analyst Jessica Reif Ehrlich reiterated her buy rating on Netflix and hiked her price target by $200 to $1,000, implying more than 13% upside from Wednesday's close.
"Live and advertising are complementary growth drivers, as more live programming drives additional high value, premium ad inventory," Reif Ehrlich added.
"Netflix's ability to monetize this premium live inventory will be key to making advertising a multi-year growth driver."
Still, Netflix has an average price target of $787, implying about 11% downside from Wednesday's close.
Persons:
Jessica Reif Ehrlich, Reif Ehrlich, Mike Tyson, Jake Paul –, Beyoncé –, ann
Organizations:
Netflix, Bank of America, Broadcasting