Netflix is trading 3.5% down at $72.80 after Citigroup lowered its price target, citing concerns over near-term growth ahead of the company's upcoming Q2 earnings report.
- Citigroup reduced its price target from $115 to $100 while maintaining a Buy rating, though it flagged potential headwinds for the next quarter.
- The move appears to be driven by this specific analyst outlook rather than broader market trends, as major indices are trading slightly higher today.
- Investors are reacting to the cautious commentary regarding growth risks as the streaming giant prepares to release its financial results.