Key Takeaways

Netflix's ( NFLX ) price target received a big boost from Oppenheimer on high demand for the biggest streaming service's live events.

Oppenheimer analysts led by Jason Helfstein raised the price target to $1,065 from $825, the highest of all analysts who cover the stock tracked by Visible Alpha. They kept the "outperform" rating on the stock.

The analysts wrote in a note to clients that they were revisiting their " bull case" because in the near-term, they "expect positive commentary from NFL Christmas Day games similar to Paul/Tyson, driving sentiment into 4Q earnings."

JPMorgan Recently Increased Its Netflix Price Target

Last week, JPMorgan increased its price target to $1,010 from $850, making a similar argument about Netflix’s programming, including the Jake Paul/Mike Tyson boxing match.

Oppenheimer said Netflix "remains the only investable mainstream media stock" because its competition continues to weaken, and it is benefiting already from industry-low churn that is lifting content cost leverage. In addition, the analysts pointed to "upside to monetization and subscribers estimates as the company has proven it can be a platform for live events." They argued those live offerings further allowed for subscriber expansion of more than 500 million households worldwide.

Shares of Netflix, which edged higher in recent trading, hit an all-time high last week and are up nearly 90% this year.

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