Netflix bull slashes share-price target by nearly a third
Shares of Netflix Inc.
slipped 0.6% toward a nine-month low in premarket trading Tuesday, after Pivotal Research analyst Jeff Wlodarczak slashed his price target by 32%, citing concerns over a "slower path to profitability. Wlodarczak, who was previously the most bullish on Netflix of the 40 analysts surveyed by FactSet, reiterated his buy rating he's had on the stock for at least the past three years but cut his target to $350--32% above Monday's closing price--from $515.
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