Netflix stock climbed to its seventh record high in as many trading days on Thursday after the internet television network bagged a bullish report from JPMorgan.
On the stock market today, Netflix stock rose 0.8% to close at 837.26. Earlier in the session, NFLX stock hit an all-time high of 841.
JPMorgan analyst Doug Anmuth reiterated his "top pick" and overweight ratings on Netflix stock with a price target of 850.
"We believe investor sentiment remains strong into year-end on the Q4 content slate," Anmuth said in a client note.
Netflix's content slate includes live programming such as the "Jake Paul vs. Mike Tyson" boxing match on Friday, as well as two Christmas day NFL games.
Other fourth-quarter releases on Netflix include season two of "Squid Game," drama series "Black Doves" starring Keira Knightley, biopic "Maria" starring Angelina Jolie, action flick "Carry-On," and animated film "Spellbound."
Other factors lifting Netflix stock include increased confidence that the streaming video leader will meet or beat its revenue growth outlook and operating margin profit guidance in 2025, Anmuth said.
Netflix stock has been on a tear since the company delivered a beat-and-raise third-quarter earnings report on Oct. 17. It got a further bump on Tuesday when the company reported a big jump in users of its advertising-supported service.
Further, Netflix stock is on the IBD 50 list of top growth stocks.
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