Phillip Securities analyst Jonathan Woo downgraded Netflix to Accumulate from Buy with a price target of $388, up from $346. Netflix continues to grow its subscriber base and its "Basic with ads" plan is showing early signs of promise, the analyst tells investors in a research note. The analyst cites the recent rally in the shares for the downgrade.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on NFLX:
- Avoid Netflix Stock (NASDAQ:NFLX) after Its So-So Q4 Earnings
- META, AMZN, or NFLX: Which FAANG Stock is Wall Street’s Best Bet in 2023?
- Netflix teams up with Bumble for ‘Netflix Nights In’ game, Mashable reports
- Netflix price target raised to $390 from $340 at Argus
- Netflix (NASDAQ:NFLX) Stock: Website Traffic Hinted at Strong Q4 Sales