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Morgan Stanley cut the Netflix
NFLX, + 1.06%
The 12-month price target is expected to rise from 480 to 480 US dollars on Tuesday, in anticipation of the announcement of the streaming giant's results, claiming that a stronger dollar and higher rates Rising interest could result in higher costs for the company. This follows similar cuts by Raymond James, who lowered his price target to $ 400, up from $ 445 on Monday, and Goldman Sachs, who lowered his price target to $ 430, from $ 470 on Friday. Despite this reduction, Morgan Stanley maintained its overweight in Netflix, saying the company's long-term outlook was still good, especially abroad. "European success bolsters the view that Netflix, over time, can cope with historically challenging pay-TV markets," analyst Benjamin Swinburne said in a note to investors. Netflix shares fell 2.8% last week amid massive market sales, although they have risen 74% since the start of the year. The S & P 500
SPX, + 1.43%
gained 4%.
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