Seaport Research analyst David Joyce downgraded Netflix (NFLX) to Neutral from Buy without a price target The firm cites valuation and the time needed to execute against expectations for the downgrade. Seaport now sees less than 10% of upside in the shares. There is “plenty of the long-term opportunity” factored into the shares at current levels, and Netflix needs time to execute against the expectations in advertising, aggregating, launching experiences, and expanding share again, the analyst tells investors in a research note.
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