Glonghui, January 9 | Citigroup downgraded Netflix's rating from “buy” to “neutral”, maintaining a target price of $500. According to the bank, revenue growth expectations for 2024 may be lowered; content spending is expected to be close to $20 billion in 2025, while Wall Street generally expects $18 billion, which may affect profit growth. The bank said that without large-scale share buybacks, Netflix will have $8 billion in net cash by 2025, which will provide sufficient financial support for large-scale transactions.
花旗：下调奈飞评级至“中性” 维持500美元的目标价
Citi: Lowering Netflix's rating to “neutral” and maintaining the target price of $500
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