Investing.com -- Wells Fargo downgraded Netflix to Underweight from Equal Weight in a note Friday, warning that softening viewer engagement and a weaker content slate could pressure the streaming giant's margins and valuation. Still guessing which names to buy? Our AI rebuilds its stock picks at the start of every month. The list is beating the market by 120%. See what's on it » Analyst Steven Cahall cut his price target for the stock to $57, implying about 25% downside, and lowered his valuation multiple to 15 times forward earnings from 21 times. He said the January viewership report, due with fourth-quarter results, is the negative catalyst. Cahall added that Netflix's engagement trends look worrying, with viewing at 1.
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