Netflix resumed with an Equal Weight at Wells Fargo

Wells Fargo analyst Steven Cahall resumed coverage of Netflix (NFLX) with an Equal Weight rating and $105 price target The firm previously rated the shares Overweight. Netflix should “rebound” from its attempt to acquire Warner Bros. Discovery by seeking to accelerate engagement with more content, the analyst tells investors in a research note. Wells thinks a price-to-earnings multiple of 25-30 times will be the “new range” for the shares. The firm believes “scars” on Netflix shares “can begin to heal.”