Deutsche Bank downgrades Netflix, arguing market has priced in leading position

Blowout earnings aren’t the obvious time for a downgrade. Yet Deutsche Bank, while lifting its price target on Netflix to $525 from $460, has downgraded its rating on the streaming leader to hold from buy. Netflix shares NFLX, +1.33% rallied 9% to $539 in premarket trade on Wednesday. Read: Netflix stock jumps on huge spike in new subscribers, surge in ad sales “Netflix is still the best story in media among the vertically integrated producers/programmers/distributors,” said Bryan Craft, a Deutsche Bank ...