Bearish
Wells Fargo downgrades Netflix to 'Underweight' amid weak content slate.
Wells Fargo has downgraded Netflix's stock rating from 'Equal Weight' to 'Underweight' and reduced its price target from $80 to $57, citing concerns over declining viewership and a weaker content slate in the latter half of 2026. The firm estimates a 4% year-over-year decline in Netflix's viewership for the second half of 2026, including a more than 20% drop in the Top 100 Netflix Originals. Additionally, Wells Fargo forecasts a 4% year-over-year decrease in hours per subscriber per day for the same period.
Key points
- Wells Fargo downgrades Netflix to 'Underweight' amid weak content slate.
- Netflix's stock price remains above the new price target, trading at $75.31.
- Despite the downgrade, Netflix's stock is down 37.65% over the past year.
Sources
AI-generated from public news sources. Not financial advice.
