Citi downgraded Netflix to Neutral from Buy with an unchanged $500 price target. Across 2024 and 2025, the Street has lofty expectations for Netflix, but 2024 revenue estimates may be a tad too high, the analyst tells investors in a research note. The firm further warns that 2025 content investments may exceed consensus estimates, and it also warns that investors should not rule-out potential acquisitions. Citi is cutting its FY24 EPS view to $14.65 from $15.47 and its FY25 view to $19.37 from $20.12.
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