Wolfe Research upgraded Netflix (NFLX) to Outperform from Peer Perform with a $1,100 price target following the Q4 earnings report. The company's "superior scale" led to accelerating financial returns and expanding potential to capture the long-term total addressable market, the firm tells investors in a research note.

Netflix, Oracle and other tech stocks lifted U.S. indexes as their profits pile higher and excitement builds around AI's moneymaking prospects.