HSBC downgrades Netflix to Hold citing YouTube engagement pressure
HSBC downgraded Netflix (NFLX) to ‘Hold’ from ‘Buy’, saying Alphabet’s YouTube is taking increasing viewer share and that a near-term recovery in engagement is unlikely.
HSBC downgraded Netflix Inc. ’s (GOOG, GOOGL) YouTube is drawing an increasing share of viewers away from the streaming company and that engagement is unlikely to recover in the near term. According to TheFly, HSBC cut NFLX to ‘Hold’ from ‘Buy’ and reduced its price target.