Pivotal Research raised the firm’s price target on Netflix (NFLX) to $1,100 from $925 and keeps a Buy rating on the shares. Post the “(mostly) successful” Mike Tyson and Logan Paul fight, which was streamed by a “massive” 65M households, Pivotal raised its medium and long term subscriber and average revenue per user forecasts for Netflix. When combined with a modest increase in its terminal EBITDA multiple, the firm increased the price target to a Street high $1,100. The boxing match is a successful learning experience for Netflix and the technical issues will not happen again with future live events, the analyst tells investors in a research note.
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