Netflix
NFLX,
was downgraded to neutral from buy at Citi, which kept a $500 price target on the streaming giant. “First, we believe 2024 revenue estimates may be a tad too high. Second, we see scope for 2025 content investments to exceed Street estimates. Third, we cannot rule-out potential acquisitions,” said analysts led by Jason Bazinet. Netflix stock has climbed 48% over the last 52 weeks though it’s slipped marginally this year.
