Netflix stock price slips as JPMorgan turns upbeat on NFLX after $2.8 billion break fee
Netflix shares slipped 0.4% to $96.24 after JPMorgan resumed coverage with an “overweight” rating and $120 target. Netflix waived its right to match Paramount Skydance’s bid for Warner Bros, receiving a $2.8 billion termination fee after the deal collapsed. Co-CEOs said the acquisition was “no longer financially attractive.” CFO Spence Neumann will speak at a Morgan Stanley conference March 4.