Netflix Analyst Drops Bullish Stance, Says Stock Is ‘Priced For Perfection’
Shares of Netflix Inc (NASDAQ: NFLX) were trading lower on Tuesday, after climbing through most of January and 2023 despite various challenges.
The stock seems to be “priced for perfection,” reflecting much of the implied advertising opportunity, according to Seaport Research Partners.
The Netflix Analyst: David Joyce downgraded the rating for Netflix from Buy to Neutral, while removing the price target.
The Netflix Thesis: The stock has “rapidly achieved” the recently increased price target of $576, Joyce said in the downgrade note.
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“Netflix has its qualities and attributes…from which to build incremental businesses in advertising and gaming, positive FCF, and capital returns,” the analyst wrote. He added, however, that the different valuation metrics relative to growth …
Full story available on Benzinga.com