Wells Fargo downgrades Netflix to Underweight, trims target
Wells Fargo downgraded Netflix to Underweight from Equal Weight and cut its price target to $57 from $80 amid concerns viewers may watch less.
Netflix Inc. (NFLX, Financials), the streaming company expanding into sports, gaming and advertising, is facing a new concern from Wall Street: people may simply be watching less. Wells Fargo downgraded Netflix to Underweight from Equal Weight and cut its price target to $57 from $80. Shares fell abo…