I was out for a casual walk this morning and the 965 started showing a heart rate in the 140-150 range (my normal walking heart rate is typically 60-70). I stopped walking to give the watch a moment to collects its thoughts and see if it would give me a valid value. It did not, so I did a hard reset and that seemed to fix the issue (there is a high-ish reading a bit later, but I can't be 100% certain that was not accurate).
I'm fair skinned and my watch is worn snug against my wrist. My cadence during the walk was nowhere near what the HR was displayed as. I did not start an activity.