Huber Research downgraded Netflix to Underweight from Overweight and set a $70 price target. The firm cited concerns about viewer engagement and a potential workforce reduction. The downgrade adds to cautious sentiment ahead of Netflix’s upcoming earnings report.
KeyBanc Capital Markets lowered its price target to $85 from $92 while maintaining an Overweight rating. Its analysts cited currency pressures and slower profit growth as Netflix increases content spending. The moves follow recent price target cuts from Morgan Stanley and Barclays.