Top Wall Street Analyst Downgrades Netflix and Reddit

Wall Street’s top analyst recently made some significant downgrades and upgrades in the streaming entertainment world. Here’s a rundown of the latest news you need to know.

Let’s start with the good news – the upgrades! Loop Capital upgraded Charter to Buy from Hold, with a price target of $510. They’re feeling optimistic about the company’s growth prospects, especially with the proposed merger with Cox Communications. UBS also upgraded United Airlines to Buy from Neutral, citing recent tariff relief and a shift towards stability and slow growth in the economy.

Barclays upgraded Williams-Sonoma to Equal Weight from Underweight, expressing less concern about the macro environment for big-ticket items. Wells Fargo was bullish on RxSight, upgrading it to Overweight with an attractive valuation at current levels. And JPMorgan upgraded Cognizant to Overweight, praising their progress in closing the growth gap with peers.

Now for the downside – the downgrades. JPMorgan downgraded Netflix to Neutral, noting that while they still hold a long-term bullish view on Netflix’s streaming leadership position, the risk/reward balance on the shares is becoming more even. Wells Fargo downgraded Reddit, speculating that recent user disruptions could be permanent. And TD Cowen downgraded UnitedHealth, citing disproportionate impact from the v28 risk model.

Northcoast downgraded GE Aerospace, believing that the stock’s risk/reward is no longer appealing. And TD Cowen also downgraded Shake Shack, suggesting that the restaurant spending backdrop and lack of category leadership could limit further multiple expansion.

To round things out, there were some new initiations as well. BofA reinstated coverage of SBA Communications and initiated coverage of Equinix, Crown Castle, Digital Realty, and American Tower with Buy ratings. Seaport Research initiated coverage of Starz Entertainment, Northland initiated coverage of Hallador Energy, and Craig-Hallum initiated coverage of Super Group.

That’s the latest news from Wall Street’s top analyst. Stay tuned for more updates in the world of streaming entertainment.