Netflix soars as earnings highlight dominance in ‘streaming wars’

Netflix soared 10% on Wednesday as its blowout subscriber growth cemented investor confidence the firm has won the streaming wars with its password-sharing crackdown and a strong content slate. "Netflix has already won the streaming wars and this type of strong result/guidance, especially relative to its streaming peers, is what winning looks like," said Pivotal Research Group analyst Jeffrey Wlodarczak. Wlodarczak raised his price target on the stock to a Wall Street high of $700.