This article first appeared on GuruFocus. Netflix (NASDAQ:NFLX) shares slipped Tuesday after HSBC downgraded the streaming giant to Hold from Buy and slashed its price target 21%, warning that weakening engagement and intensifying competition from YouTube could make a near-term recovery harder to deliver. Analyst Mohammed Khallouf cut his target to $76 from $96, leaving only about 3% upside from current levels and putting renewed focus on whether Netflix can defend viewing time without materially increasing content costs. Warning! GuruFocus has detected 6 Warning Signs with AMD. Is NFLX fairly valued? Test your thesis with our free DCF calculator.NFLX GF Value chart Netflix stock fell more than 1% at Tuesday's open following the downgrade.
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