Netflix Price Targets Cut by Four Firms Ahead of Q2 Earnings on July 13

NFLX2.67%
Oppenheimer and KeyBanc cut their price targets on Netflix (NFLX) on Monday, July 13, ahead of the company's Q2 earnings report later this week. Oppenheimer lowered its target to $100 from $120, while KeyBanc analyst Justin Patterson reduced his to $92 from $115, according to TheFly. The moves follow similar cuts from Citi and Bernstein last week, both lowering targets to $100. All four firms maintained buy-equivalent ratings. Analysts cited valuation concerns, noting Netflix trades at a premium to peers despite slowing revenue growth. Consensus forecasts call for Q2 revenue of $12.58 billion and earnings per share of $0.79.
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