NEW YORK, Jan 7, 2026, 14:35 EST — Regular session
- Netflix shares were little changed as investors weighed a Warner Bros. Discovery board move that kept Netflix’s takeover plan in place.
- Wall Street’s average 12-month target sits around $130, but the next two weeks bring headline risk from earnings and deal scrutiny.
- Traders are watching whether NFLX can retake key chart levels after a pullback from last year’s highs.
Netflix shares edged down 0.2% to $90.50 on Wednesday, after Warner Bros. Discovery’s board again urged shareholders to reject a rival bid from Paramount Skydance and stick with Netflix’s offer. 1
That matters now because the merger fight has become a daily driver of sentiment around Netflix’s near-term path, not just its streaming numbers. Warner said Paramount’s amended offer would amount to a leveraged buyout — an acquisition financed mostly with borrowed money — and flagged roughly $87 billion of pro forma gross debt in the structure. 2
The clock is also ticking on Netflix’s next catalyst: the company is due to publish fourth-quarter 2025 results and its business outlook on Jan. 20, with executives scheduled for a live video interview later that afternoon. 3
Netflix used the opening to press its case. Co-CEOs Ted Sarandos and Greg Peters said Warner’s stance “recogniz[es] it as the superior proposal,” and the company said it has already made its Hart-Scott-Rodino filing, a pre-merger notice required under U.S. antitrust law, and is engaging with regulators including the U.S. Justice Department and the European Commission. 4
On forecasts, the picture looks split between longer-term upside and near-term caution. Data compiled by StockAnalysis shows an average 12-month price target of $130.09 for NFLX — roughly 44% above Wednesday’s trade — while the stock sits closer to the bottom of its 52-week range of $82.11 to $134.12. 5
The chart is what some traders are staring at into earnings. Netflix is trading well below its 50-day moving average of $102.65 and its 200-day of $115.15, and CFRA this week cut its rating to “hold,” according to a MarketBeat report. 6
But the downside case is not hard to sketch. In the takeover battle, Reuters cited analyst Ross Benes at Emarketer saying Warner “does not want to sell to Paramount,” a stance that could keep headlines coming; even so, any regulatory slowdown or a softer-than-expected Netflix outlook on Jan. 20 could push the stock back toward its recent lows. 7
Next up: Netflix’s Jan. 20 results and outlook, with any new detail on subscriber trends, margins and the Warner transaction likely to set the tone for the next leg in NFLX shares.
