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One of Wall Street's biggest Netflix ( NFLX ) bulls is less bullish ahead of the streaming giant's earnings next week—but not by much. And it hasn't stopped the stock from rising today.

Analysts at Oppenheimer led by Jason Helfstein on Wednesday trimmed their $1,065 price target on Netflix by just a touch, cutting it to $1,040 while maintaining an "outperform" rating on the shares. The new target is about 25% above Tuesday's close, 15% higher than the Visible Alpha mean near $905, and tied with one other analyst for the highest tracked by the aforementioned service.

Shares of Netflix are climbing today, with the stock recently up more than 2% as broader markets rose . Investors are likely looking ahead to the company's next round of quarterly financial results, due Tuesday after the closing bell, which will mark one of the key moments of the start of tech-industry earnings season.

The company in October told investors to expect 15% fourth-quarter revenue growth—implying a number above $10 billion—and sequential growth in paid net subscriber additions. That first figure compares with Visible Alpha's mean revenue estimate of $10.1 billion. (You can read our coverage of Netflix's third-quarter results here .)

Oppenheimer, for its part, bases its caution largely on the outlook for 2025 revenue due to a strong U.S. dollar . The shares, meanwhile, while in the red this year so far, are up some 70% over the past 12 months.

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