Amazon's (AMZN) New Willingness to Pay for Content Will Pressure Netflix (NFLX)
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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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Morgan Stanley Upgrades Netflix (NFLX) to Overweight, Sees 28% Upside
October 8, 2012 6:42 AM EDTMorgan Stanley upgraded Netflix (NASDAQ: NFLX) from Equalweight to Overweight with a price target of $85, suggesting 28% upside. The firm doesn't see Amazon.com as a direct threat and said the value of just the domestic business justifies the current market price.
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