Citigroup Downgrades Netflix to Neutral, Announces $500 Price Target
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Jason Bazinet downgraded Netflix (NASDAQ:NFLX) from Buy to Neutral and set a price target of $500. This reflects a change in Citigroup's outlook on Netflix's stock, potentially influencing investor sentiment and the stock's market performance in the short term.

January 09, 2024 | 10:37 am
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Netflix was downgraded by Citigroup from Buy to Neutral, with a price target set at $500. This downgrade may lead to a cautious stance from investors and could impact the stock's performance negatively in the short term.
Analyst downgrades typically lead to a negative perception among investors, as they suggest a less optimistic outlook on the company's future performance. The downgrade from Buy to Neutral by Citigroup indicates a shift to a more cautious view on Netflix, which could result in a decrease in investor confidence and a potential drop in the stock price in the short term.
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