- There's more analyst apprehension on Netflix (NASDAQ:NFLX) ahead of today's Q2 earnings report due out after the market closes.
- Buckingham Research moves to an Underperform rating from Neutral on concerns over valuation and global competition. "International competitive intensity is increasing, while pricing power is limited in high growth and especially competitive middle-income markets like India," says analyst Matthew Harrigan. "As TV goes all- IP delivery globally and Netflix soon loses much outside content it will have to increasingly differentiate itself through in-house production as its user experience advantage erodes," he adds.
- Citi warns that the short-term setup might not be favorable for the streamer even as it remains "positive" on the long-term prospects.
- Last week, it was UBS and Deutsche Bank (DE:DBKGn) turning cautious ahead of the Netflix Q2 print.
- NFLX +0.28% premarket to $396.90.
- Now read: Would You Dare Bet Against Netflix?
Original article