What's Going On With Netflix Stock Monday?
Portfolio Pulse from Adam Eckert
Netflix shares are trading lower due to a downgrade from Barclays, which cited valuation concerns. Barclays downgraded Netflix from Equal-Weight to Underweight, maintaining a price target of $550. Despite this, Goldman Sachs and Piper Sandler have positive outlooks, with Piper Sandler upgrading Netflix to Overweight and raising the price target to $800.
October 07, 2024 | 6:37 pm
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NEGATIVE IMPACT
Netflix shares fell after Barclays downgraded the stock to Underweight due to valuation concerns, maintaining a $550 price target. However, Goldman Sachs and Piper Sandler have positive outlooks, with Piper Sandler upgrading to Overweight and raising the price target to $800.
Barclays' downgrade to Underweight due to valuation concerns has negatively impacted Netflix's stock price. However, the positive outlooks from Goldman Sachs and Piper Sandler, with the latter upgrading to Overweight, suggest mixed sentiment. The upcoming earnings report will be crucial in determining the stock's short-term direction.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100