Huber Research cuts Netflix price target to $70 from $85 ahead of Q3 earnings
What happened
Huber Research cut its Netflix price target to $70 from $85, another pre-earnings reduction on top of Seaport's cut to $90 (Oct 19) and Barclays' to $70 from $80. The cuts land hours before Netflix reports Q3 results after Tuesday's close, with consensus at $0.82 EPS and ~$12.88 billion revenue, matching company guidance. The company is targeting ~$3 billion in 2026 advertising revenue, nearly double the prior year, which investors are counting on to offset slowing viewing-hour growth and weaker U.S. momentum.
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Start your free 14-day trialWho’s affected
- Netflix (NFLX): pre-earnings target cuts piling up (Huber, Seaport, Barclays); stock ~44% off 52-week high
- Streaming/media read-through on engagement and ad-revenue monetization expectations
Sources