Citi is cautious on Netflix going into the Q2 report on July 18 giving the recent rally in the shares. The firm keeps a Neutral rating on the name with a $660 price target. Citi expects Netflix to report net additions modestly ahead of sell-side estimates but modestly below investor expectations. Investor focus will likely remain on the company’s advertising tier, sports content strategy and capital allocation, the analyst tells investors in a research note. With the stock up 45% year-to-date, Citi is cautious heading into the earnings report.
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