Wells Fargo Just Downgraded Netflix Stock. Here's Why.

Netflix (NFLX) shares are on track to record their worst year since 2022, but a senior Wells Fargo analyst, Steven Cahall, cautions against hoping for a swift recovery. In his latest research note, Cahall downgraded the streaming giant to "Underweight" and slashed his price target to $57, indicating potential downside of another 20% from here. At the time of writing, Netflix stock is already trading about 35% below its year-to-date high. More News from Barchart Bank of America Just Declared a 'Generational Entry Point' in U.S. Bonds. Why Investors Should Be Backing Up the Truck on Treasuries Here.