UPDATE: Traders Watch Netflix (NFLX), Amazon (AMZN) on Expanded Hulu, Viacom (VIAB) Partnership
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BofA/Merrill Lynch Downgrades Netflix (NFLX) to Underperform
October 9, 2012 6:49 AM EDTBofA/Merrill Lynch downgraded Netflix (NASDAQ: NFLX) two-notches from Buy to Underperform with a price target of $72.00 following the 31% run-up in the last few weeks.
The firm said bears have plenty to sink their teeth into including increasing domestic and international competition.
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