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.
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.
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.
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. Netflix
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.
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. MarketBeat
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. Reuters
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.
