UBS cuts Netflix price target to $100 while Bill Ackman re-establishes position and Ark Invest buys the dip
What happened
UBS Group cut its Netflix price target to $100 from $115 in a research note issued to investors Wednesday and reported October 23, keeping a Buy rating on the stock. TD Cowen also restated a Buy rating with a $100 target on October 21. On the other side of the tape, high-profile investors are buying the selloff: Bill Ackman has re-established a Netflix position and reportedly expects annualized returns above 20%, while Cathie Wood's Ark Invest bought 18,000 shares after the decline. The stock hit a new 52-week low earlier this week, now trading around 17x forward earnings.
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Start your free 14-day trialWho’s affected
- Netflix (NFLX) — directly exposed to the analyst-target tug-of-war and to whether the post-earnings selloff was overdone; trading around a 52-week low. Watch-list peers noted for context: Skydance (SKYD, now combining HBO Max and Paramount+) and Alphabet's YouTube flagged as rising competitive threats.