Are you ready for some exciting news in the world of investing? According to JPMorgan, Friday could be a big day for Netflix as the company is set to stream a boxing match between influencer Jake Paul and legend Mike Tyson from the AT & T Stadium in Texas.
Why is this significant for Netflix? Well, JPMorgan believes that this fight could be a record-breaker and potentially bolster Netflix’s ad-tier subscriptions. With the ease of access for viewers and Netflix’s large global subscriber base of 282.7 million, this event has the potential to attract a significant number of viewers and ad dollars.
But that’s not all – this boxing match is just the latest move by Netflix into the live sports arena. The company has already streamed golf and tennis events, and they are set to stream two NFL games on Christmas Day. Analyst Doug Anmuth notes that Netflix is increasingly focused on sports entertainment and events, and we can expect to see a bigger push into live sports in the future.
This move has not gone unnoticed by investors. JPMorgan has rated Netflix as overweight and given it a price target of $850, suggesting potential gains of about 2.4% ahead. Shares of Netflix have already jumped more than 70% this year, significantly outperforming the broader market, and enthusiasm around the stock has only grown since the company’s strong third-quarter results.
Analysts are also bullish on the stock, with 33 out of 48 analysts covering it rating Netflix as a buy or a strong buy. So, if you’re looking to capitalize on the potential growth in Netflix’s ad-tier subscriptions and its expansion into live sports, now might be the perfect time to consider adding Netflix to your investment portfolio. Don’t miss out on this exciting opportunity to be part of Netflix’s next big move in the world of streaming and sports entertainment.