Analyst: Fears of Netflix's Rising Competition Are "Overblown"
Before Netflix's (NASDAQ: NFLX) quarterly update on Wednesday, analysts have been busy updating their price targets on the streaming TV giant's shares. The latest analyst to update his view for the company is lowering his 12-month price target for the stock, but he still thinks shares will appreciate significantly over the next 12 months. Further, the analyst believes fears about competition are "overblown."
With Netflix shares down 24% in the past three months, recent analyst reports come at an interesting time. Is this a buying opportunity? Or is Netflix going to see challenging times as competition heats up?
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Source Fool.com
