Dade Hayes Finance EditorNetflix shares cooled down Tuesday, slipping 2% to about $517, after UBS downgraded the stock to “neutral” from “buy” on concerns about difficult subscriber comparisons in upcoming quarters.Analyst Eric Sheridan, despite lowering his rating, did not change his 12-month price target of $535.
Netflix is due to report second-quarter earnings on Thursday after the close of the trading day.In a note to clients, Sheridan wrote that the company’s “long-term narratives remain intact” and he expects global subscriber numbers to be “significantly higher” than the company’s projections.
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