Wolfe Research Cuts Netflix, Inc. (NFLX)’s Price Target To $121, Maintains Outperform Rating

Core Viewpoint - Netflix, Inc. is recognized as one of the best stocks to buy within the S&P 500, despite recent price target reductions by analysts [1][2]. Group 1: Analyst Ratings and Price Targets - Wolfe Research has lowered its price target for Netflix to $121 from $139 while maintaining an Outperform rating [2]. - Jefferies also reduced its price target for Netflix to $134 from $150, keeping a Buy rating on the shares [3]. - As of December 17, Wall Street analysts have a Moderate Buy rating on Netflix, with an average one-year price target of $133.27, indicating a potential upside of 42% [4]. Group 2: Sector Outlook - Wolfe Research has a bullish outlook on the entertainment and music sector, rating it as Overweight, while downgrading the telecom and cable segment to Market Weight due to weak performance metrics [2]. - Jefferies advises investors to be selective with internet stocks, citing potential margin pressures from increased spending and concerns related to artificial intelligence [3].