After Netflix, Inc. (NASDAQ:NFLX) reported a sharp slowdown in user growth yesterday evening, the online film and television platform was downgraded by several brokers.
Citigroup was particularly damning in its assessment as it trimmed its stock price target to US$92 from US$106, while Credit Suisse went a little easier, lowering its price target to US$119 from US$122.
Raymond James also cut its price target for the stock to US$120 from US$130, and Nomura followed suit, trimming its share price by US$5 to US$110.
Citigroup wasn’t quite so bearish on tech manufacturer IBM (NYSE:IBM) as it raised its price target 12.5% to US$160 from US$140.
Toy and board game specialist Hasbro, Inc. (NASDAQ:HAS) was upgraded to an ‘overweight’ rating from ‘neutral’ by investment bank Piper Jaffray.
The same bank didn’t look quite so favourably upon American clothing brand Guess?, Inc. (NYSE:GES) as it downgraded the stock to ‘underweight’ from ‘neutral’.
As a result of yesterday’s takeover news, British software designer ARM Holdings PLC (NASDAQ:ARMH) had its rating lowered by Raymond James to ‘market perform’ from ‘outperform’.
The same broker also downgraded research firm The Advisory Board Company (NASDAQ:ABCO) to ‘market perform’ from ‘outperform’.