Netflix shares are trading lower after Barclays downgraded the stock from Equal-Weight to Underweight while maintaining the price target at $550.
Portfolio Pulse from Benzinga Newsdesk
Netflix shares declined following a downgrade by Barclays from Equal-Weight to Underweight, with the price target remaining at $550.
October 07, 2024 | 5:47 pm
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NEGATIVE IMPACT
Netflix shares fell after Barclays downgraded the stock from Equal-Weight to Underweight, keeping the price target at $550.
The downgrade by Barclays suggests a negative outlook on Netflix's stock performance, leading to a decline in share price. The unchanged price target indicates that while the stock is expected to underperform, the long-term valuation remains the same.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100