Deutsche Bank Downgrades Netflix to Hold, Raises Price Target to $525
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Bryan Kraft has downgraded Netflix (NASDAQ:NFLX) from Buy to Hold while increasing the price target from $460 to $525. This reflects a more cautious stance on the stock despite a higher valuation expectation.
January 24, 2024 | 10:30 am
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NEUTRAL IMPACT
Netflix was downgraded by Deutsche Bank from Buy to Hold, although the price target was raised from $460 to $525, indicating a mixed outlook.
The downgrade to Hold suggests that Deutsche Bank believes Netflix's stock may not have much upside potential left after recent gains, which could temper investor enthusiasm in the short term. However, the increase in the price target to $525 implies a belief in the company's value and growth prospects, which could counterbalance the downgrade's negative impact. The mixed signals may lead to a neutral short-term impact on the stock price as the market digests both pieces of information.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100