Netflix, Inc. shares dipped roughly 0.1% to $88 in after-hours trading Friday after KeyBanc cut its price target to $110 from $139, citing uncertainty over the company’s planned Warner Bros deal. The stock fluctuated between $87.82 and $88.64 during the session, with around 47 million shares traded. KeyBanc analyst Justin Patterson maintained an Overweight rating, expecting the stock to outperform peers, but noted 2026 guidance could suggest only about 200 basis points, or 2 percentage points, in operating-margin improvement.