UBS has increased its price target for Netflix to $1,040, while maintaining a "Buy" rating on the streaming company.

Analyst John Hodulik believes that Netflix will benefit greatly from the ongoing changes in the media sector.

This reassessment reflects an increase in long-term estimates for the company's operating profit and cash flow, as well as higher valuation benchmarks.

Netflix shares are currently trading at around €860.00 in European markets and approximately $893.34 on the NYSE.

The stock has experienced slight fluctuations, with a recent increase of 0.23% in European trading.

UBS's adjustments to their outlook for Netflix come as part of a broader analysis of the media landscape, positioning Netflix as a key player in the evolving industry.