HSBC cuts Netflix to Hold, lowers 2026 target 21%
HSBC downgraded Netflix from Buy to Hold and cut its price target by 21%, citing weakening engagement and tougher competition from YouTube, after shares slipped Tuesday.
Netflix NASDAQ:NFLX shares fell Tuesday after HSBC lowered the stock to Hold from Buy and cut its price target 21%. Analyst Mohammed Khallouf said weakening engagement and stronger competition from YouTube could make a near-term recovery harder to achieve.