Wells Fargo Resumes Netflix Coverage with 'Equal Weight' Rating
Wells Fargo analyst reinstated coverage for Netflix with an 'Equal Weight' rating. This change follows Netflix's return to a growth strategy. The rating includes a $105 price target.
Wells Fargo has revised its stance on Netflix, opting to resume coverage with an 'Equal Weight' rating. Analysts point to Netflix's shift back to a growth agenda, reversing an earlier decline in the company's strategic ambitions.
As a result of this reassessment, Wells Fargo set a price target of $105 for Netflix shares. This marks a significant development in the ongoing story of Netflix's turnaround efforts.
Other notable announcements in the tech and media sector, such as the downgrading of Starbucks by other analysts, were not related to Netflix's coverage change.
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