Netflix Edges Higher Despite HSBC Engagement Expectations Cut

This article first appeared on GuruFocus. Netflix (NFLX), the global streaming and advertising company, drew an HSBC downgrade to Hold from Buy, with the bank cutting its price target to $76 from $96. The stock stood at $71.535 at 11.31am ET time on Thursday, leaving HSBC's new target about 6.2% above the share price. A separate Wells Fargo downgrade adds to investor scrutiny of viewer engagement, original programming and competition for viewers' time. Warning! GuruFocus has detected 8 Warning Signs with HSBC. Is HSBC fairly valued? Test your thesis with our free DCF calculator.HSBC GF Value chart Netflix is currently trading 30.28% below GuruFocus' estimated GF Value of $102.61.