Wells Fargo cuts Netflix to Underweight from Equal-Weight
Wells Fargo downgraded Netflix to Underweight from Equal-Weight and cut its price target to $57.00 from $80.00, as reported by Benzinga.
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BUZZ — Netflix dips after Wells Fargo downgrades stock, sees 'messier story'
* Netflix shares dip 3.1% to $72.98 in premarket trading * Wells Fargo downgrades stock to "underweight" from "equal weight"; cuts PT to $57 from $80, representing a 24.3% downside to the stock's last close * Brokerage attributes downgrade to softer viewership and sees "a messier NFLX story" and "tougher choices ahead"