Investing.com -- Huber Research double-downgraded Netflix (NASDAQ: NFLX) to Underweight from Overweight on Tuesday, telling investors that the stock is now fairly valued. The firm cut its 12-month price target to $70 from $85. Before you buy NVIDIA: our AI model's stock picks are beating the market by 120%+. See the list now » Analyst Craig Huber, whose firm does not use neutral ratings, listed six reasons for the move. He pointed to press reports that Netflix is preparing to cut headcount by 5%, noting the last significant layoffs came in the second quarter of 2022, after two quarters of subscriber losses.
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