Story perspectives

Wells Fargo Cuts Netflix to Underweight, $57 Target

By Drooid · Sep 23, 2026, 11:18 PM UTC · How we work

Summary

Story summary

HSBC analyst Mohammed Khallouf cut Netflix’s price target to $76 and downgraded it to Hold.
Wells Fargo downgraded Netflix to underweight on Friday, cutting the price target to $57.
Steve Cahill projected Netflix viewing at 1.6 hours in H1 2026, 8% lower than 2023.
Cahill warned top-100 originals could lose 21% of viewing hours in H2 2026.

History

Historical Context

Netflix’s 2011 decision to split streaming and DVD plans and raise prices sparked a loss of about 800,000 U.S. subscribers and a stock plunge from $42.16 to $9.12 per share. Investors still recall that backlash; HSBC analyst Mohammed Khallouf flagged the hit then, and today Wells Fargo’s Steve Cahill warns that pricing missteps remain a recurring risk.

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Story summary

HSBC analyst Mohammed Khallouf cut Netflix’s price target to $76 and downgraded it to Hold.
Wells Fargo downgraded Netflix to underweight on Friday, cutting the price target to $57.
Steve Cahill projected Netflix viewing at 1.6 hours in H1 2026, 8% lower than 2023.
Cahill warned top-100 originals could lose 21% of viewing hours in H2 2026.

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