Netflix Falls 4% as Wells Fargo Cuts Rating to Underweight With $57 Target; Disney Barely Budges
The bank said weaker engagement and rising competition could push Netflix shares 24% lower from Thursday’s close.
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BizTocNetflix Falls 4% as Wells Fargo Cuts Rating to Underweight With $57 Target; Disney Barely Budges
Wells Fargo just handed Netflix one of the street's most bearish ratings while a rival analyst pushed a price target nearly double that level, leaving investors to figure out which firm is reading the audience right before earnings arrive.
(Teleborsa) - Netflix is moving towards a sharp drop in session, with shares dropping over 4% in the Wall Street pre-market after Wells Fargo reduced its recommendation from equal Weight to underweight...
VG
E24Wells Fargo downgraded the stock on Friday and believes the streaming giant's margin improvement will slow over the next two years.
Netflix shares closed the session on September 17 at $75.31, down by $1.44%. The open-to-close differential, down to -2.08%, showed an intensified sales pressure in the last few hours. The downgrade of Wells Fargo, which cut the rating citing a list of weak content, took place on the title. NFLX
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