HSBC Downgrades Netflix as YouTube Gains Viewer Share

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2▲6 ▼5Impact / 5
Summary · why it matters

HSBC downgraded Netflix to Hold from Buy with a price target of $76, down from $96, citing Alphabet's YouTube taking increasing viewer share from the streaming giant. The call headlines Wall Street's most market-moving research, which also saw Jefferies downgrade both Valero to Hold from Buy with a $401 price target and Marathon Petroleum to Hold from Buy with a $413 price target, while Morgan Stanley cut Ericsson to Underweight from Equal Weight with a price target of $9, down from $11. Among upgrades, Northcoast raised Brinker to Buy from Neutral with a $275 price target, Piper Sandler lifted MetLife to Overweight from Neutral with a price target of $110, up from $99, and Citi upgraded Fifth Third to Buy from Neutral with a price target of $62, up from $59. In initiations, Rosenblatt started SanDisk at Buy with a $2,400 price target, Needham began GE HealthCare at Buy with a $93 price target, and RBC Capital launched Everest Group at Outperform with a $455 price target. William Blair downgraded Endava to Underperform from Market Perform, and Northcoast cut ACV Auctions to Neutral from Buy after the company agreed to be acquired by Copart for $10.50 per share in cash.

Impact on assets 26

Financials▲
Fifth Third Bancorp
FITB
▲ PositiveCapitalrelevance

Citi upgraded Fifth Third to Buy from Neutral with a $62 price target.

Biotech & Genomic Medicine▲
Information Technology▼
Artificial Intelligence▼
Industrials▼
ACV Auctions Inc.
ACVA
▼ NegativeCapitalrelevance

Northcoast downgraded ACV Auctions to Neutral from Buy after it agreed to be acquired by Copart for $10.50/share in cash.

Consumer Discretionary▲
Synthetic Biology (non-pharma)▼
Communication Services▼
Netflix Inc
NFLX
▼ NegativeCompetitionrelevance

HSBC downgraded Netflix to Hold, citing Alphabet's YouTube taking increasing viewer share.

Climate Adaptation & Water▲
Everest Group Ltd
EG
▲ PositiveCapitalrelevance

RBC Capital initiated Everest Group at Outperform with a $455 price target.

Aging Population▲
MetLife Inc
MET
▲ PositiveCapitalrelevance

Piper Sandler upgraded MetLife to Overweight with a raised $110 price target.

Semiconductors▲
Sandisk Corp
SNDK
▲ PositiveCapitalrelevance

Rosenblatt initiated SanDisk at Buy with a $2,400 price target.

Digital Finance & Tokenization▲
Quantum Computing▲

Off-coverage companies 2

William Blair & Companyi
Private± Mixedrelevance

YouTube, LLCi
Private± Mixedrelevance